Jure -

You might want to check out the Home Theater section on the website here for other ideas, but since I also own the Live! card, maybe I can help.

Are you using one of Creative Labs' DXR decoder boards? If so, then run the AC3 coax lead from the board to your receiver. The best result will be to let your receiver decode any digital signal.

Although the SB Live card will create a 4 channel sound environment with it's front and rear speaker out microplugs, for true 5.1, you need to use the AC3 coaxial connector from the DXR board to go to your receiver.

Hope this helps.