Actually, if you pay attention to placement, it works fine. I have argued with people about this endlessly who think my postioning is all wacked and sounds terrible, but it is accurate and pleasing. I have the four speakers sharing the front channel in front of me, and the four sharing the rear channels behind me. They are located as such that postional audio is very accurate. For instance, both my rear right speakers are behind me and to the right, and both my rear left speakers are behind me and to the left and so and so on... As for the new 7.1 standard, this is what MasterHoss is talking about...
From the Hardcoreware.com review of the GTXP...
"The GTXP uses Cirrus Logics latest consumer audio chip, the Crystal CS4630. The CS4630 is a pretty impressive DSP, providing the compatibility for DirectSound 3d, EAX 2.0, A3D 1.0, and Sensaura's MacroFX, MultiDrive, ZoomFX, and EnvironmentFX. It also handles all of the audio tasks you can throw at it, when testing using ZiffDavis' Audio WinBench CPU utilization was next to nothing, so you can rest assured that while playing mp3s or fragging someone in quake3 it won't be the audio that is slowing you down. The 4630 also has a dual codec interface. What does that mean? Well each codec can handle 4 channels for a total of 8; most 6 channel sound cards have one 4-channel codec and one 2-channel codec. The GTXP currently uses the 2 extra channels for the independent headphone and microphone jacks on the front but it could be adapted to the new 7.1 AC-3 standard that is being tested."