The problem is due to a conflict between the legacy SB16 emulation (which allows your soundcard to function under old DOS-only games) and the Highpoint controller provided on the KT7-RAID card. The SB16 was an ISA card, incapable of sharing its IRQ or DMA, and hence the problem.
To solve it you can always disable SB16 emulation. You can also achieve at the time you install the soundcard drivers by doing a custom or advanced install and deselecting "SB16 emulation". If you have already installed your soundcard drivers, then how to disable SB16 emulation will vary from soundcard to soundcard. It will probably require you to boot into Safe Mode and then remove any mention of your soundcard from the AUTOEXEC.BAT and CONFIG.SYS files, and also to "uncheck" any option marked "SB16 emulation" under your sound card's driver in My Computer-Properties-Device Manager.
Although it is easy to disable the SB16 emulation in the Device Manager, it can be harder to remove it completely, as Windows seems to insist on reinstalling it next time you reboot. The following procedure will allow you to remove SB16 emulation from your Device Manage once and for all.
1) Under the System tab in Control Panel, choose Hardware Profiles. There, choose copy, and name the profile "temp"
2) Disable SB16 Emulation in the Device Manager. Reboot your machine and select the new hardware profile "temp" when prompted. It is an exact copy of the original so everything will run fine. Disable SB16 Emulation here also. Then uncheck the box that says "Exists in all hardware profiles".
3) Reboot and choose original configuration for hardware profiles and make sure the settings of "disabled" are the same.
4) Reboot and choose your new hardware profile "temp" and here Delete SB Live emulation. A box will appear asking "remove from which hardware profile" and you should choose "original configuration".
5) Reboot and choose "original configuration" and verify SB16 Emulation is gone. If so, go to the hardware profile Tab and delete your second hardware profile.
6) Now SB16 emulation does not appear anywhere in your tree. It is not using any resources, has no conflicts, and cannot be seen.