The SB live cards should work just fine for what they are. You need to reinstall ALSA so the card will be autodetected and the proper driver installed. After you have installed the card and disabled the on-board card in the bios:
To reload ALSA:
(1) Remove the ALSA packages
(2) Reinstall the same packages
sudo apt-get --purge remove linux-sound-base alsa-base alsa-utils
Packages gdm and ubuntu-desktop are also removed in this process if you are using Gnome. They need to be reinstalled:
sudo apt-get install linux-sound-base alsa-base alsa-utils
If you are using xubuntu this will also happen to you
sudo apt-get install gdm ubuntu-desktop
sudo apt-get install gdm xubuntu-desktop
(3) Reboot. Do not forget to reboot or it will not work.
After you do that if you have no sound check in the volume control on the panel that the digital (IEC958 for some) output is not selected and the PCM volume is turned up. SBlive, SBlive 64, SBlive 128, audigy and audigy2 users have reported these as the only problems to getting their cards working as far as I have seen in the past few years.
If lspci does not see the card try it in another slot.