RealTek HD 889 - Sound Dies When Using Two Audio Programs

I have the following setup:

Windows 7 Pro x64
Intel DP55WG mobo w/ onboard RealTek HD (889)
Driver Version: 6.0.1.6449 from RealTek
MSI Nvidia GTX 460

Just using normal analog speakers or headphones audio works as expected. I can play WoW, Rift, a number of other games, iTunes, play a DVD, whatever - it all works fine and as expected. I can do this for hours and hours with no issues.

When I try to run any TWO or more programs that use audio at the same time (like vent and a game, or a game and iTunes for example); after a random amount of time the audio to the speakers will just cut out - like it's muted. This happens with headphones or normal stereo speakers plugged into the rear analog jack. I have not tested with any other speaker setups as I don't have any right now.

Here is some of the troubleshooting I've done:

- There are no error messages in any system logs.

- The mixer acts like nothing is wrong you can see audio levels playing, adjust sound level, etc but nothing comes out of the speakers.

- If I put the machine into sleep mode or reboot it the sound starts working again.

- While the audio is "cut out" the mic still works (people in skype or vent can still hear me but I can not hear them - I can also "monitor" the mic and it outputs the mic sound to my speakers).

- I've uninstalled, reinstalled drivers. I've tried older drivers and the newest drivers and all the drivers between.

- Tested with the HDMI audio output devices both Disabled and Enabled, no change

- Tested with the Digital output enabled/disabled, no change.

- In the driver tried testing with the "Allow applications to take exclusive control of this device" checked and unchecked, no change.

- Restarting the Windows Audio Services has no effect or changes the state. Only sleep mode or hard reboot makes it start working again.

- Tried unplugging and replugging in the speakers and/or headphones, swapping them out, etc. no change to the state of the output of audio.