I ran into this same issue. If you talk to creative, they'll act like you're a space alien. SPDIF connectors are accessable, but apparantly the breakout connection for the live drive is all digital so it's impossible to leach off the analog channels. It was possible before with the audigy 1. All audigy 1 port maps are public. Audigy 1 and 2 breakouts are different pinouts and are not interchangeable.
I already have 5 drives and a newq platinum, I refuse a breakout box for just a headphone jack. FU creative.
If you patch it back through your mobo, you lose the >104 clean signal and add in the mobo's line noise, making your card an expensive SBL. I don't reccomend that. I had to make my newq an eye candy dead-end box (except FM patch recycler) for the same reason.
The best plan IMHO (and the way I went) was to get a set of THX speakers to compliment the card with a headphone jack in them. I haven't heard a bit of white noise ever since.
and again, live drive is a giant POS for just a headphone jack. The digital pinouts are an even bigger scam... grrrr....
as far as your mike goes.... just get a boom mike and upgrade to headphones that will be able to reflect the quality of the card. My setup is the card, Z5300's and Sony MDR-700's :beer: