i use an aardvark lx6 soundcard, which has 6 output channels. i just tried to do what you're talking about - i can't get it to work with wmp and winamp. it's wmp that's the problem. winamp and other audio progs are playing back fine for me. also, if you had one program playing back, and tried to start playback in the second program (to preview, say), expect some glitches in the audio of the first program.
you may want to look at software that is designed for the dj'ing application. check out Native Instruments' Traktor
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