My personal opinion:
Sound quality depends on 3 factors:
1. Source
2. Sound card
3. Speakers/Headphones
Source is usually beyond user control, comes with whatever is making the sound.
For the sound card itself, not all cards (or chipsets) are created equal. The sound reproduction varies by chipset. Personally, I find on-board chipsets to give a weaker and poorer quality output than say a high-end sound card. Would you notice the difference? Maybe, maybe not. I do a lot of audio editing and music composition on the computer and I notice the difference. I find a good sound card produces a more powerful, crisper sound than most cheap sound cards and on-board chipsets do.
But what's the point in having a great sound card if your speakers are rubbish? Even if your sound card is putting out great sound, cheap speakers or headphones will ruin it before it gets to your ears.
So... that's my opinion anyway...