Yes, but still some sources say Audigy 2 upsamples samplerates below 48khz to 48khz causing higher intermodulation distortion. And who knows if Audigy 2 still uses AC'97 codec.
One reason for choosing Audigy 2 ZS might be gaming, as far as I know there aren't "better" card for gaming. And Revo doesn't have hardware accelerating for directsound which makes games slower. Not a big problem with new CPUs, but there are no real EAX effects only software simulated Sensaura. And if there's many sounds playing at the same time e.g more than 16, some of the sounds might be missing and decrease speed too.
If you choose Audigy 2 try to find the old OEM/Bulk model. I claim there no difference in quality, only the fact that older OEM is 6.1 and ZS is 7.1. It's not worth of extra cash IMHO, rather go for something "better".
About sound quality, there's no objective information of it like ABX double blind listening tests IIRC. I have no experience of Audigy 2, but I'd claim M-Audio would have slightly better quality. If you look the purpose of most M-Audio cards it might tell something. But it's possible that someone might like more about Audigy 2. By the way at
AVSforum there have been subjective discussion about Revo and AP2496 and most people have told Revo sounds better.
BUT, You haven't told what you want from the card.