Matt, I sure am interested...
If you were to include Dolby Digital and Dts decoding, that would be awesome (DPLII or equivalent for movies and music would be nice too)... to top it all you could add DVD-A (MLP), but I might be dreaming here
Given the licensing fees, this probably means that we'd have to pay some more for these audio filters, which I'd gladly do if MC could be used to decode DD or DTS both from internal sources (like a DVD player such as TheaterTek) and external SPDIF or analog sources (I have an HDTV card which outputs DD AC3 on an external connector, and would certainly like being able to use MC to decode this signal)
This would allow me to replace my external Digital Processor, and would give me access to newer format.
Actually, a plug in approach might be worth considering ($10 per sound format such as DD or Dts would be attractive)
Besides the Revo sound card, you might want to look at the M-Audio pro products (Delta 410, 1010, 1010LE), which are also very nice cards.
Finally, these cards have drivers which already provide crossover adjustments, delays and channel level volume controls, so you shouldn't have to worry about these features...