This guide is the current fix for people that have issues with sound delays while running the Windows 7 operating system.
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Open the Ventrilo program.
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Click the "Setup" button
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Check the "Use Direct Sound" for the "Output Device"
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Click the "Binds" tab at the top of the window. Next check the "Use Direct Sound" for the "Output Device"
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Click the "Speech" tab at the top of the window. Next check the "Use Direct Sound" for the "Output Device"