The DAC plays a very large role here as well. The thing is, E-MU has really put out a spectacular product, especially consiering the price. If you want outboard sound, go with the 1820m which has its DAC in the break out box. The best from RME have been said to need modding before it will break even/beat the E-MU 1212m in stock form. The 1212m can be modded and still come in under or near the price of the stock RME. The reason I bring up the RME is that it was the previous king of the hill and has even been given high ratings from Stereophile (class A if I recall correctly, someone please correct me if I'm wrong) and that's in stock form. John Atkinson of Sterophile even used the RME in producing some of the finest recordings I've ever heard.
In terms of USB or Firewire, I haven't heard anything one way or the other about Echo products other than their Indigo. M-Audio's Delta Series are detailed but a bit bright, thin and some what lacking in the bass department. When compared to the E-MU the Audiophile USB seems very thin an lacks the musicality of the E-MU.
Some reasons not to get the 1212m:
You really need S/PDIF output that will carry DD/DTS signal
You are really want 24/96 WDM support (this is a driver issue and may be fixed in the future).
You need the money to fund your crack addiction...
jk
You could better spend the money on a romantic night in a hotel and a candle lit dinner for two (perferably in the suite with candles lighting the room and rose petals on the bed spread) with your wife or girlfriend and cannot afford both. ...sorry just the romantic in me popping up... hehehehe Damn you Orpheus you got me thinking about spending money on sweeping women off their feet instead of headphone gear in your thread the other day and I haven't been able to get it out of my head... grrr