"The irony is that Foxconn chose Realtek's ALC888 codec to drive the Cinema Premium instead of the ALC889, which has a better signal-to-noise ratio and can be found in the Gigabyte and MSI 785G boards in this roundup."
Actually, it makes perfect sense to use a subpar codec when the intention of the board is to use digital audio which will never touch the Realtek codec. When you use analog outputs, the benefits of DD live and DTS connect are worthless because whatever audio format the content is in will be decoded in surround sound and output over the analog outputs.
DD Live and DTS connect are simply transcoding AAC or game surround sound into Dolby Digital or DTS surround sound where it is passed as DD or DTS over the spdif or HDMI port, never touching the realtek codec making it's quality a non-issue. The purpose of the board is digital connections only and the codec was simply added because all boards need one.
DD Live and DTS connect are simply transcoding schemes for PC digital audio into a format that receivers can understand. If you think of it that way it is easy.