Sound Settings Issue

I recently reformatted my machine not too long ago. Everything was going fine until I started playing .wav files. They simply wouldn't play... so when I looked into it, I noticed that for some reason I can't change any of my settings in the 'Sound and Audio Devices' icon in the Control Panel.

I have a Sound Blaster Audigy 2, and I've updated and changed, and reupdated the drivers more times than I have fingers and toes. It just plain won't let me set a device for wave playback. Also, whenever I go into the 'Sounds and Audio Devices' Icon, ANY settings that I change and click apply or ok, they clear after I open it back up, as if I never made those changes.

Something is commandeering my settings or disallowing me to change them and I can't figure out what. Its starting to really annoy me because, some internet videos won't have sound, and any of the games\windows sounds that are in wave sound won't playback. Mp3s, movies, etc. play sound just fine.

If someone could help me out here, I'd greatly appreciate it.