So I am slowly upgrading my PC and I finally dumped my 12-year old Creative SB Live card and got a "SB X-FI Titanium Fatal1ty Pro" PCI-express card.
(The motherboard I'm planning on won't have PCI slots at all, only PCIE).

A lot of these newer cards have something called "ALchemy" that re-enables EAX 5.0 support for games even in Windows 7.
It actually dumps a dsound.dll in the Morrowind directory kind of like how MGE intercepts direct3d DLL's.

I was wondering, are there any add-ons to Morrowind that work with EAX?
Even a simple mod that changes between open area sound for exterior cells and tight-area sound for interior cells could make a big difference!

I am not sure if there are any freeware EAX emulators or only Creative's ALchemy?

This should work to re-enable DirectSound3D and EAX processing for Morrowind, too:
http://www.gamesas.com/index.php?/topic/1192376-relz-restoring-surround-sound-and-eax/
It runs in software, so it should also work for people using Vista/7 that don't have or can't use ALchemy.

Also, consider this post a bump because I'm curious about his, too. Are there any mods that enable EAX effects in Morrowind like Side's EAX Control does in Oblivion?