QUOTE (napalmdeth @ Sep 18 2008, 03:21)

You don't need to set anything in Ventrilo. When Stereo Mix is selected in Volume Control, when you hit your push-2-talk button in Ventrilo, Ventrilo will submit Winamp sounds (and everything else YOU hear) instead of mic sounds.
Realtek mixes everything and you actually choose what to exclude from the mix (as opposed to single source recording on other cards) - at least mine does under XP. Stereo mix is muted by default.
So you may actually record both the winamp music and the microphone (provided the Ventrilo itself doesn't have audio feedback, this could totally wreck the sound due to positive feedback loop).
If I had the English windows, I would post a screenshot of the mixer.