Both are excellent boards, and you can't go wrong with either one. I got the KT7RAID myself, because I needed an ISA slot at the time I built it (the Asus didn't have one) and I really like the idea of having a RAID array.

As Darren stated, I've also had no problems with the SB Live. The big secret is to reserve IRQ5 for legacy ISA in the BIOS, and make sure you're using the latest VIA chipset drivers and Creative's latest SB drivers. No problems at all, in 3 different operating systems (98SE, 2K, and Red Hat Linux 7.0).

And if you go with a KT7 (any version) stay away from the Orbs. Actually, stay away from the Orbs no matter what motherboard you choose. They're over-rated. Checkout the ThermoSonic ThermoEngine. Much better CPU cooler, IMO. www.thermosonic.com.tw

I've never looked back on my decision to get a KT7, but sometimes I wonder what might've been had I got the Asus A7V...