About the best you're going to get with that old card is #4 here, Creative Sound Cards.
as there is not now and never will be Windows 7 (or Vista for that matter) drivers
Also make sure to make note of the ram limitation mentioned here, SB Live! series Support Pack 2.0 (04/30/2010) - Creative Labs
You have to remember that when that card was new 2 GB was considered a lot, with 4 GB not even a consideration at the time. Without a complete re-write of the driver
(and that isn't going to happen unless Creative releases the source code), there isn't much you can do.
Normally in a case like this I would recommend pulling the card and using the onboard sound, only one problem with that, your PowerEdge SC440 doesn't have any onboard sound. Try the drivers above and if you get the problems mentioned then you basically have one of two choices if you want sound,
1. Buy a new sound card that does have (and will continue to receive) Windows 7 support.
2. Pull 2 GB of ram so the driver can work properly.