M-Audio Sonica, which was the precursor to the Transit, is a step up from the internal soundcard in your laptop, but probably not as good as the Pico. M-Audio Audiophile is out of production, so if you want current technology, I'd just look around here. Unfortunately, I'm not aware of anything better until you jump up to the Apogee MiniMe or Duet (the latter of which requires an Apple...for now).
But that's intended for a match with the CKIII -- I'd just go with the Pico.
Pico's biggest competition (in my head), believe it or not, is the Musical Fidelity X-CANv8, which now has a USB option. But you'd have to check around for a bargain, because they are pushing your budget. But I haven't heard it, so have no idea if it comes even close to the Pico, it's just on my short list of items to hear.
Plus, it requires external power, whereas the Pico, I believe, does not.