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X-FI Titanium Replacement

I did not use any of the Titanium HD features. Tried some, turned them off in the end.
Crystalizer? Stupid 2.0 -> 5.1 enhancements? Completely unnecessary for modern games with built-in multi-channel audio.

Games that have built-in multi-channel audio are exactly why these features are so useful. They work in a number of different ways. You can produce virtual 5.1/7.1 surround from a 2.0 source, but I don't find that very useful either. What I find very useful is the ability to create a virtual 5.1/7.1 surround environment from a 5.1/7.1 source while using headphones. Many games have 5.1/7.1 positional audio, and being able to use that via something like CMSS-3D while using headphones tends to provide significantly better surround sound in-game compared to simply selecting stereo within the game.

Also HDMI output is uncompressed (comparing to DD Live) and if not affected by analog noise (comparing to analog 5.1 output to my old receiver).

The Titanium HD does not have 5.1 analog output, so that is obviously not what you were using before if that is what you transitioned from when you switched to using HDMI. If you are setting up a 5.1/7.1 speaker setup using a receiver, HDMI can be a great solution in the sense that it is uncompressed, but it is indeed a very basic audio solution from the computer's perspective, and your resulting audio quality would be completely dependent on the DACs inside the receiver (Hopefully that was a priority when they designed it). Most of the discussion in this thread however has been clearly in reference to stereo (Titanium HD along with basically every external DAC out there offer only 2-channels of analog output).
 
Any half-decent audio receiver is capable of transforming 2.0 audio into 5.1 or 5.1 into 7.1 using Dolby algorithms. Same for 5.1 audio into headphones with virtual channels (Yamaha's CINEMA DSP, etc.).

Yes, I did not use analog output with Titanium HD, I used DDL output via SPDIF.
I did use 5.1 analog output with Auzen Prelude some years ago when I had non-HDMI receiver, but I had to switch to digital due to analog noise.
 
Any half-decent audio receiver is capable of transforming 2.0 audio into 5.1 or 5.1 into 7.1 using Dolby algorithms. Same for 5.1 audio into headphones with virtual channels (Yamaha's CINEMA DSP, etc.)

Not all effects processing is the same. Creative's effects processing is tried and true. Personally I would be curious to try and compare the Yamaha DSP. Even if it did compare favorably, do you really feel that a low-end 5.1 receiver is a good solution for someone looking for good 2.0 audio? The receiver you mentioned earlier, the Yamaha RX-V379, is literally the bottom-end receiver of their current lineup, yet still has an MSRP of $300. Compare that to the cost of most Soundcards or even USB DAC/Amps, and it would be pretty silly to go that route unless you are actually looking to have a multi-channel speaker setup. A 5.1 receiver for $300, I think it's pretty clear that the DACs for 2.0 output would be an afterthought; while in the case of something like the Titanium HD or an external DAC, it's literally the main feature.
 
I love my Auzentech X-Fi HOMETHEATER HD card! Best of both worlds. It only supports 1080P, but I just plugged in a dummy hdmi signal, run a separate HDMI out to the TV, and all is good.
 
Whats a good USB Dac that won't break the bank? That Steinberg stuff is too much after spending $1000 on a speaker setup :)

If you want a nice usb dac at a very good price I got one of these Sabre U2 Async DAC ES9023+SA9023 (I got mine on ebay from a supplier in China). It's been excellent for playing mp3's from my netbook/air server to a high end system with monoblocks and energy rc-70s.. for $65~ish I think it's hard to beat. The headphone amp in it is not too strong though - so that's something to be wary of.
 
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