Embedded HD audio would save around $100+ over buying a Sound Blaster Audigy/X-FI card which support EAX HD audio.
Those are two completely unrelated items. So called onboard HD audio is in no way a replacement for what an Audigy/X-Fi can do. The only widely available high fidelity audio sources currently available are SACD, which cannot be played on a PC, and likely never will be able to, and DVD-A which Creative sound cards can play right now, and nothing else in the PC market can. So you can actually use the higher fidelity capabilities of a Sound Blaster, while you can't for the onboard. Also there are no non-Creative sound cards that support any version of EAX beyond 2.0, which is ancient and inferior to what Creative is currently using (EAX HD 5.0, I think). Using high fidelity DAC's for EAX 2.0 is like making a video card that displays 64bit color but is only certified up to DirectX 3.0. What the hell is the point? Not to mention Creative's cards have significantly lower CPU utilization in gaming compared to the competition despite using much more advanced EAX versions.
And simply put, all onboard audio no matter what it is called, is vastly inferior compared to the X-Fi when it comes to the most basic of sound card functions, producing clean and accurate audio.
There really is no such thing as HD audio, unlike HD video which has a set of industry standards. Current onboard audio labeled as HD, though better than the garbage that was AC97 is still no competition at all for a quality standalone sound card from the likes of Creative, Turtle Beach, M-Audio, and Terratec among others, in the sound quality department. Don't let the marketing for dummies trick you into thinking onboard "HD" audio is anything more than a budget solution for the masses who couldn't tell the difference between a real audio file and the original CD if you told them which was which before playing them.