A sound card is a necessity if you are going to use a good 5.1 gaming system or like me hook it up to an amp and bookshelf speaker system.
As far as performance goes, you won't really see a huge difference. Dispite what most believe, an onboard sound card is the same as a regualar sound card, except that the DAC and transistors as well as the power supply are integrated into your motherboard. Realistically you will see negligible improvements and theoretically you SHOULD see none.