Same problem here. There are 2 workarounds. The first is the optical connection already mentioned, which is what I'm currently using. Are you sure you don't have one? If your Mac can run OSX Lion, it should be new enough that the headphone jack is also an optical out. Grab a toslink-to-miniplug and check.
The second is to boot into the 32 bit kernel (Lion boots 64 by default). There are a few ways to do this. The first is to use the command line in the Terminal: (
taken from a discussion on Apple's boards about the EMU)
[size=1em] Here is the command for Lion:[/size]
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[size=1em]sudo systemsetup -setkernelbootarchitecture i386[/size][/size]
[size=1em] [/size]
[size=1em] to switch back to 64-bit mode use:[/size]
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[size=1em]sudo systemsetup -setkernelbootarchitecture x86_64[/size][/size]
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[size=1em] Hit the 32 bit line and reboot with the EMU usb plugged in and on. You will be able to switch to it in the Sound Prefs, though you won't be able to use the software (soft clipping settings, etc). You can still record though; the mic inputs and digital ins are recognized and transmitted just fine back through the USB. Hope this trick works in the meantime. [/size]
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[size=1em] Downside to the 32 bit kernel is some speed/power. Likely won't notice though. There are little programs that will do what the terminal commands do, if you don't like the command line. You'll have to tell it to go back to 64 though with the other command if you ever want to. [/size]
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[size=1em] I was doing that for a while, but I do a lot of video and sound editing so it was a pain to go back and forth. But I didn't want to spend good money on another USB DAC/Headphone amp right now, so I switched to Optical out and use a different input device for the recording side. The optical out though lets me use the good DAC, get a decent headphone system and send great analog out to my amp from the computer. (FYI, if you do have optical out, and want to use the EMU as a headphone amp, set the S/PDIF to Optical and the Direct Monitor to Main.) [/size]
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[size=1em] Other than that, it might be time to look for a firewire setup (if you ever need recording: Audiofire or M-Audio) or a new USB setup (of which there are plenty to choose from). It doesn't seem that anyone is writing a generic driver...or firmware update that can talk to the 64 bit kernel.[/size]