Absolutely not. DirectSound3D just isn't implemented in the Vista/7/8 sound stack.
It's like how setting Windows 95/98 compatibility isn't going to make 3dfx Glide-only games run with hardware acceleration on today's cards that only support Direct3D and OpenGL.
This is why the Creative cards have ALchemy, the Asus cards have DS3DGX, the Realtek codecs have 3DSoundBack, etc. You need to wrap those DirectSound3D calls into OpenAL if you want hardware sound acceleration to work. Fortunately, ALchemy works very well on X-Fi cards.
(Unfortunately, it doesn't work at all on Aureal A3D games, but those usually have a DS3D mode that will work.)