For strictly gaming, I'd still go with a Creative X-Fi product, like the Xtreme Gamer or Titanium. I find their sound and music augmentation features accomodate games better, like CMSS-3D and, as you said, EAX when it's provided.
The ASUS Xonar DX is good if you want to get DTS or Dolby Digital encoding, which is what you need when you want to hook it up to a speaker system via digital optical. The surround sound capabilities of the ASUS Xonar are good, but not as good as what the X-Fi cards can do in terms of gaming. Music and movies, however, are more in favor for the ASUS Xonar card.
This is strictly based on what I've observed between the cards, though. I'm not really what you would call an "audiophile" per se, so I would suggest waiting for someone else's opinion on the matter.
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