What i suggest 
[ul]
[li]Option to choose the audio output device
[/li][li]stereo / 5.1 switch
[/li][li]microphone calibration ( a lot players complain my volume is to low, but i wont change in windows cause i dont want to mess up my audio settings for teamspeak and other games
[/li][li]
[/li][/ul]
I would say “headphone(/mono)/stereo/5.1/7.1”, add “voice-activation-to-talk” with calibration and more audio sliders (footsteps/ambient/voip/etc).
I would say device selection, “headphone(/mono)/stereo/5.1/7.1”, add “voice-activation-to-talk” and more audio sliders (footsteps/ambient/voip/etc).
Ok Mustang…we heard you the first time :P.
On topic, the various sliders and whatnot seem sensible.