Is Windows WASAPI sound card dependent?

So if I am recording using Windows WASAPI in WIN 7 using Audacity 2.1.1 does it make a difference what sound card I have as far as the quality of the recording is concerned? If Windows WASAPI is digital is it even passing through the sound card? I can’t seem to find any info on how this Windows WASAPI works.

I believe it takes the place of Stereo Mix, What-U-Hear and other sound manager services.


Techy stuff from Wikipedia:

and from Microsoft:

and some more:

And from the Audacity Manual: