Ok Macousticboy
I pulled up your soundcard and the software mixer
Have a look here
http://www.soundonsound.com/sos/sep0...es/emu0404.htm
To get your levels to Reaper
Put the software mixer"Main Mix" on -1db
Then set your levels on the EMU software mixer tracks playing the instrument of your choice to suit around -12db peak levels on the reaper tracks in meters.
You should get no distortion from that.
Any one chime in if I am an idiot!
Grinder
https://soundcloud.com/steve-maitland-1