This is a little bit redundant, but...
JosefTor: you, sir, are a genius. I reinstalled the Dell drivers for my X-Gamer as a Live! instead of a Live! Value and the missing features reappeared. And there was much rejoicing.
Edit:
Mark W: use the speaker applet from Audio HQ. It'll let you do exactly what the more advanced Surround Mixer does in LW3.
[This message has been edited by IMarshal (edited 20 February 2000).]