RoMac Sound Card Management allows you set up each of your programs that use a sound with its own individual levels for a sound card, and then launch the program. When you quit the selected program, the RoMac Sound Card Management utility will return all the sound card levels back to normal. It works also for Windows Vista (freeware).

Freeware/Donation http://www.romacsoftware.com/SoundManagement.htm