Thanks for the reply. I have Creative 5.1 speakers, which were plugged into my sound card correctly with XP, nothing changed with Windows 7. I have gone through those options in your screen shot and tested the individual speakers by clicking the little test thingies. They all work as they should...
I updated from XP SP3 to Windows 7 Ultimate, making no changes to hardware/wiring, simply formatting my hard drive and giving it a fresh install of Windows 7. I allowed the updates to find all my drivers, and it found a driver for my sound card. However, no matter how I fiddle with the settings...