I've had an NF7-S and an AN7. The AN7 was my main PC for 2-3 years.
One of those boards ruined the 3.3v rail of a modern 550W PSU but I suspected the main cause was a GF4Ti card I was using, not just the motherboard itself. It was okay at first but in a couple weeks the 3.3v rail was sagging. That PSU was 3.3v 22A, 5v 26A, 3.3v+5v 160W max. I replaced it with an old 300W PSU that had better ratings on those rails and it was perfect after that.
I don't remember ever using a Realtek driver. Whenever I installed WinXP on those boards, I just used nVidia's nForce2 driver package. I never used 5.1 though so I have no idea if there are additional steps related to that.
The Soundstorm audio supports something like 20-bit or 24-bit PCM (I can't remember the correct number). If you use WinAmp 2.x as I do, then there's a plugin for it that enables the higher bit depth.
When installing the nForce2 drivers, I would leave the nVidia IDE driver unselected. One time I did try installing the nVidia IDE driver on the NF7-S, and shortly after there were some strange WinXP errors. Before and after that I read a bunch of stories about the nVidia IDE driver causing data corruption, so I decided to blame those errors on that issue. Since that time I always stayed with the generic Microsoft driver and never had that problem again. I noticed that a later version of nVidia's driver installer even displays a vague warning message about the IDE driver. It seems to imply that nVidia was aware of problems with their IDE driver, but it doesn't say so directly.
I remember reading about problems with the SATA controller also but I never used it on these boards, I always ran these boards with IDE. If you do run into problems then a PCI card is of course an option. The onboard Sil3112 controller is on the PCI bus anyway, so it would make no difference in the bus utilization. The IDE ports talk directly to the southbridge, they don't use PCI.
If the board isn't brand new then the chipset fan is always bad. They're probably the worst chipset fans anybody ever put on a motherboard, and that's saying something. The "heatsink" is really just a thin little enclosure to hold the fan, which is one of those video card style fans with 3 screws on a platform at the bottom of it. I doubt oiling the fan will make it last for any decent length of time, even when new they didn't last.
Instead of trying to find a compatible fan that will last longer than 2 months, I'd just convert it to something more conventional. On my boards, I removed the heatsink and replaced it with a common green heatsink from the 440BX/etc era. The spacing of the pins that go into the motherboard matches a 440BX. You can fit a common 40mm square fan over that and thread screws into the heatsink from above. The fans I used were some overpowered 40x20mm 6000rpm Deltas just because I already had a bunch of them handy, but they were overkill and somewhat loud. Reliable though.
Some nForce2 boards had a passive heatsink, but those were bigger heatsinks than what you'd find on most boards. I think DFI did that, not sure who else.
I like the AN7 because of some ways that it's more modernized than the NF7-S. It has some fan control features that the NF7 lacks. Also has firewire, but I guess nobody uses that anymore. The AN7 can boot from USB, which is handy on occasion.
It can be set up to work with Mobile CPUs, you just have to go into the BIOS and manually set the Vcore and multiplier. The BIOS can save multiple presets for the CPU setup.
I felt like my AN7 was a great match for a Radeon 9800 Pro, but nowadays I'd also consider the Geforce 6600-6800-7600 range of cards. I doubt a 7800GS would gain anything and they're very expensive.