Hmm...lets see...
could be a driver problem:
http://support.microsoft.com/default.aspx?...kb;EN-US;275678
es198xdl.sys is identified as the module and from what I can find, that is a Directsound driver.
Boot up in safe mode (hit [F8] as the computer starts up to get to a menu that will allow you to select safe mode.
Go to your sound devices and reinstall the drivers.
Then try to boot up. If problem still persists, open box, remove sound card.