Yeah, I've still got my trust worthy Sound Blaster Live Value, and it hasn't stepped me wrong
I've had it about 6-7 years now at least!
Newer cards can offer more performance in games, with more hardware sounds effects supported, and for example EAX (the latest) being supported allowing for hardware based echo's, etc being suppported in new games.
The Sound Blaster Live Value supports EAX 2.0 which is pretty basic, but I don't tend to use it anyway.
As long as you keep your drivers updated, you should have no problems with the card.
I doubt I'll change for a while yet.
But yes, tonnes better than having an onboard sound chip!!!