If you are using digital connection to your speakers, the digital on/off in the X-fi, creative console launcher has sometimes come unselected on my system, why it has happened I don't know, but it could be the problem.
Sound wasnt working this morning, so went about checking the stuff everyone has mentioned on this thread when suddenly it started working again. Then it stopped and started randomly for half an hour and now it seems to be working fine!
Hopefully it'll stay like this.
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