In reply to:

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Under Windows 2000, those settings would blow my speakers/headphones. Now I have to have most of the sliders at 30% or so, and the master volume is comfortable at about 15%, and overdriving at anything over 30 or 40%

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I have noticed this as well, I have access to several machines under Win2K, and unfourtunatly this issue is reflected on ALL machines, not sure why. I just had to manually mess with all the settings. Microsoft doesnt have any info in Technet either. So they must consider this a minor issue.

Very annoying indeed, especially when my main box at home is dual booted with Win98 (quiet) and Win2K (loud!).