Yes, it works for me and it seems to work just for about everybody. It seems to be one of the least problematic cards and it has also hardly noticeable latency. You do get, however, only two channels output which also means can only apply one set of effects (i.e.you can\'t for instance apply two different halls to two instruments).
Well, you are absolutely right. You can\'t expect (given the price) the Analog I/O to be of studio quality. However, I do not sample and use the card only to listen to GSt. I record then everything directly to disc, mixing it in the computer and burning directly to CD. So I do not need any In/Outs of high quality. And for output you can always use the Digital Out which will give much better results than using the on-board converters.