In Audio Console -> Speakers tab, put a tick in 'Synchronize with Microsoft Windows Control Panel', & reboot.
Also check in Control Panel -> Sound & Audio Devices -> Volume tab -> Advanced, that the correct Speaker setup is selected.
If the above doesn't help, I would suggest to uninstall/reinstall the Creative sw, or at least the 'Creative Speaker Settings' sw.
If still no joy, consider installing SP2. I don't know why you don't have it installed already, but you may have a good reason for not doing so, do you? G