Possibly, as I know someone who tried to record some stuff using Audacity, his motherboard had an onboard soundchip (using Vista 32bit), and he was not able to, whereas, I was able to record fine, using a Terratec DMX 6 Fire soundcard on a Vista 64bit OS (with Audacity).
He could not get one of the icons to appear on the Recording tab ("Stereo Mix") in Sound (Control Panel), which was necessary to get the recording process to operate.
Now in saying the above, I'm sure a way has been found around this to get it too work, but what that may be I have no idea, there may be some setting within the sound drivers that probably needs to be selected.