The only difference between the SB Live! Value and the regular SB Live! is the software bundle. That being said, the Value is a fantastic card, and cost about $40 at most online. You can go cheaper to a SB PCI128, or even a SB 16, but I really wouldn't recommend it. A good sound card is a nice thing to have, if you ask me. Especially if you play mp3s.
As for these "problems" with the SB Live, I'd love to hear what they are. I've had a SB Live! Platinum ever since it came out and I've had absolutely no trouble with it. And considering I use it as part of a home recording studio, I drive it pretty hard.