I've been through something very similar to this w/ my Audiophile (and any digi soundcard) after rebuilding my system...it had worked fine before, so I knew it wasn't the card. Most likely, the Audiophile is on the same IRQ as some other resource intensive hardware. Goto Control Panel>System>Device Manager then View>Resources By Connection. Now look at the IRQ tree and see what number the Audiophile is assigned and whether or not other devices are using that same IRQ. I bet you find that some are. In WinXP especially, it's a huge pain in the ass to attempt to change the IRQ manually b/c they are automatically assigned. I looked all over the internet for how to do it, and found a recommendation somewhere to just change PCI slots and reboot as a quicker solution. I swapped positions of a couple cards including the Audiophile, rebooted, and rechecked the IRQs. Luckily I only did it once, and the Audiophile got an IRQ all to itself. Pops, clicks, etc immediately went away.
good luck.
mitch
edit: damn, should have read your entire post before going down the IRQ path. IRQ 15 should be fine if the card has it all to itself. Mine is at 22 and works fine. If you have other hardware listed on 15, I'd do what I suggested and swap slots. If it's on 15 all by itself, then I'm not sure what is going on.