There has been large discussion on VortexofSound about this topic, but finally there are some people willing to code a new Windows driver too.
For those who don't know, there is a new OpenSource Aureal driver, written from scratch. This in no joke, its real. Check it out by yourself:
Source code is on CVS in the "ALSA" module.
It support many new features, as the Hardware EQ for example. Its working very stable (on Linux).
I'm posting this everywhere, since we are now hacking on Wavetable and 3D audio support.