Didn't do a thing for me.
Since I "upgraded" *cough* to PPC 2003, I've had the following audio issues:
- Humming sound w/Media Player
- No "Begin Sync" sound with Active Sync (yes, it's enabled)
- No "ding" sound after soft reset
Installed the patch, but the issues remain. I thought maybe I screwed up or it didn't take, but when I tried re-installing it said it already was installed. I said to go ahead anyway, but then the Axim told me "the new driver is older than the current one" or something like that, and it aborted. Oh well.