I wanted to check and see if anyone else had found other suggested fixes for this problem with the audio. I too used my Xbox 360 through the Line-in jack on my old XP machine.My apologies. Of course it took five minutes after I posted this to realize that it might help to hunt down different drivers. I've resolved my issue.
I'm running Vista Ultimate 64-bit on brand new hardware (EVGA 680i motherboard with built-in HD audio). Right now it shows that it is using the Microsoft High Definition Audio Device driver, last updated on 6/21/2006.
I tried the update driver fix that you suggested, but Windows just reported it could not find a better driver (and I have not found better drivers elsewhere).
I've spent a good four hours trying to figure this out, and have just run out of search queries to try.
I appreciate any assistance anyone can offer, and I apologize for bumping such an old thread.