Audio control not working properly

I have an Intel D850 motherboard (intel brand) with onboard audio (I believe the AC’97 chipset). I’m running Win2k Pro. For some reason, the volume controls don’t do anything — I can have a CD or any media playing, and even if I mute it using thestupid little system tray icon, it keeps playing. The only way to affect the actual volume is on the speakers or from within a program like Windows Media Player. I’ve tried re-installing the latest driver from Intel, with no luck.