No one has an opinion?

I think the main reason that no one has an opinion is that items such as these boil down to personal preference and features. If the features on one are more suited to you than the other, that's the clear winner.

Neither is going to be amazing and neither is going to suck.

You pick.

Ditto.

The biggest difference between the two is the software package. Both come with Cubase LE. The Emu comes with Sonar LE, Amplitube LE and a couple more cool plugins. It's a pretty huge. software bundle which makes me wonder where they cheaped out.

The Lexicon comes with a reverb plugin, which I'm assuming is probably pretty nice. Good reverb has been elusive to me. I've yet to be satisfied. I guess I'll have to shell out some big cash.

So those, as far as I'm concerned, will be the deciding factors. There isn't anything that one won't do over the other with exception to the fact that the Lexicon does not have an SPDIF i/o. But that would require another preamp with SPDIF capability anyway.

I have to be honest. I started out thinking that there really isn't much difference but I have to wonder how the EMU can afford to toss in so many plugins at that price. I know they're all lite versions but still, they had to strike a deal with all those companies. I realize it's all promotional but it just makes me wonder.

E-mu owned by Creative has greater bargin power that the others don't. Creative has lower production costs. Since they sell more product than most, they pass the savings and provide better value. The E-mu 0404 PCI or 0404 USB version is one of the best bargins to come along in many, many years.

Other than reverb, Lexicon's digital audio products have had a bad history. They simply are no longer trusted in the market place.