PCI-E 1x expansion cable w/ add-on soundcard?

http://www.sourcingmap.com/pciexpress-pcie-riser-card-f...

I was looking at something like that

the way my motherboard is designed means that using the bottom pci-e 1x slot would block a lot of airflow from my graphics card, since my case has 7 expansion slots surely I could use this cable to move my card down near the bottom slot, giving my card lots of room for airflow

my only concern is that thing looks really old, is it like PCI E gen 1? do I need to find a Gen 2 or 3 PCI interface for my soundcard to work

an generally, will this extension solution work, or will it just cause problems

please help  

edit:
my current problem
http://i46.tinypic.com/68u5ie.png