I've had the same issue with both an SBLive! and an SBLive! Platinum in a machine with a Highpoint RAID controller. Turns out these gizmos don't want to play ball with each other. Screen goes blank on startup, just like you saw.
The third part (this is a bit of a "hate" triangle) is the Via chipset. If you've got one of those, then you need the latest updates to stop "issues" between the PCI bridge and disk controllers.
What's happening is that the ACPI feature of the motherboard shares resources between the sound card and the disk controller (ouch!). I've read several different "cures" for this, and am going to try them out tonight.
Try some or all of these. Maybe someone else has a definitive fix - but on all the forums I've trawled I've yet to see one. Sorry.
1. Latest drivers for all devices. Or in some cases, older drivers work better for the Via chipset, while using newer drivers for the Sound card and disk controller.
2. Disable 16-bit SB Emulation. You need to do this before the PC reboots after you've installed the driver - so don't let the installer reboot for you.
3. Disable ACPI in the BIOS.
4. Manually assign IRQ 5 in the BIOS to the sound card and let the disk controller have a separate auto-assigned one. Hey, it might then conflict with something else - it knocked my TV card out.
5. Disable DMA on the disk controller. Invariably it uses the same channel(s) the sound card wants.
Like I said. Your first issue is with the hardware :-(
I'm trying exactly the same thing, except with an on-board HPT controller - 3 disks, CD-RW, DVD-RAM and a NIC and a TV card to boot.
At least we know what the root of the problem is - the SB Sound Card/Disk Controller/Via chipset fallout.
Now all we need to do is fix it.
Good Luck! CitrixEngineer@yahoo.co.uk