Yes, it is. You have to install the dos drivers for sblive. You will also need a boot disk.
rem ---The below lines are for the SBLive sound card---
SET BLASTER=A220 I5 D1 H5 P330 T6 J200
SET CTSYN=C:\WINDOWS
C:\PROGRA~1\CREATIVE\SBLIVE\DOSDRV\SBEINIT.COM
The dos drivers won't work on win2000/nt/xp. Will work with winme/win2000/nt/xp running FAT/32 but you will need a "Win9x Startup Disk" which would need to be modily to run P1 and sblive.