I just bought an ABIT KD7 motherboard. It has good quality onboard sound. I only use 2 logitech speakers and don't game.
1. Would the onboard sound be just as good for my purposes as the Soundblaster 5.1 I use now?
2. If I should go with the onboard, will the CD players automatically get sound? With a soundcard I have to run a cable from the CD to the card.

Just connect the cd audio cable to the Onboard sound card connector
Should be marked on the Mother board where
It may not sound perfect.
But then running Music in a computer never does sound it's best

He He :D If you heard my (so-called) HiFi that last statement might need re-wording. :D

I Know Exactly what you mean :)
Been there myself a few times