It's one of those situations where some people swear that they've not had any problems at all with the Revo and others have had them, sold them and say they'll never own another one. It's pretty hard to judge without knowing all the facts.
Just out of curiousity, do any of the other machines you run XLobby on (the ones that are running fine) use the Revo as a soundcard? If so, have you run them long enough to detect whether they fault? Damned intermittant faults!
I'm trying to clear some time in the next 2 weeks to remove the revo and just use the motherboard's onboard sound. Not as a permanent solution, but just to try and see whether the Revo is causing the problem. You can be sure I'll report what I find back here. The only problem is that life is uncomfortably busy at the moment and I can't try it out sooner.
It's interesting though, that once you've taken XLobby out of the picture you're not seeing any more freezes. Still, as you say, it's probably a bit too early yet to know conclusively.