kX Project Audio Driver is an independent WDM driver for all EMU10K1/2-based soundcards manufactured by Creative and/or E-mu Systems Inc., including the SoundBlaster Live! series, the E-mu Audio Production Studio (APS) card, and the Audigy series of cards.

You can read more detailed info on the drivers here. I'm currently using an Audigy soundcard but I've never tried these drivers before (didn't know about them either), perhaps me or Thomas will be able to comment on them later, I've heard a few good things though, mostly targeted at musicians and not gamers.

I've been using them for a while, and like you say they are great from a Musicians point of view. You can do so much more with the inputs and outputs than with the creative drivers, and there's a proper ASIO driver as well which actually makes it possible to play VSTi's etc without like a second lag.