Your realtek MB sound is AC97 compliant, meaning that it resamples all audio to 48khz, reducing sound quality. Plus, the AL655 uses an internall PLL Clock generator, meaning there will be more jitter than the EMU series and other crystal synched sound cards (whether you could actually hear a difference from the increased jitter is up to debate). Finally, I'm not sure if the realtek can bypass kmixer, windows volume control, which reduces the the signal approximately down to 14 bit for 16 bit sources. ASIO or Kernel Streaming support is needed to bypass kmixer.
Overall, if you're considering using an external DAC I would recommend purchasing a new sound card if you are not keeping your 1212m. You want to get all the potential out of the DAC by giving it a decent source signal. I would recommend the AV-710 if you're thinking about using an external DAC. Hope this helps.
