Stardock SoundPackager

SoundPackager is available as a stand-alone application or as part of Stardock's award-winning suite of desktop enhancements!

Object Desktop
Price: $49.95
Get the SoundPackager as one of over a dozen other outstanding desktop enhancements that can change nearly every aspect of your Windows desktop. Includes, WindowBlinds, IconPackager, DesktopX, Keyboard LaunchPad, WindowFX, and more!

Or get SoundPackager on its own...

SoundPackager
Price: $19.95
The ultimate sound customization program for Windows. It allows users of Windows XP and Windows Vista complete control over how Windows sounds.