To mix decently, you do need two soundcards. One for each channel of the mix. It supposedly will work with one and a special adapter that splits your channels. However, the adapters I've seen allow some of each channel to seep into each other so you can hear the other channel in the background. Anyway, even if it did work, you'd be mixing in mono, and that's no good.
Of course, for serious mixing (at least, serious enough to do live), you'd need two computers and a mixing board. Not much different than two turntables at that point. An idea I've pondered trying out. I think showing up live with two laptops would be cool, what do you guys think?
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