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No, the official drivers do not and never will since they do not support any audigy 1's.
But you can do what I have done, and use the drivers and software from the audigy 4 pro
Just follow this guide at driverheaven and you will be using the latest and greatest from them(ok, not so great). Click me
Just understand that this is not going to turn your audigy 1 into an audigy 4 pro BUT the drivers(YouP PAX A4, modified drivers from creative to work on the older hardware) are newer and I have had less problems with them then the originals for my card(exact same one you have). You can also use the newer apps also. But the really nice thing is you have access to the better mixer which lets you set volume and other attributes for each speaker
I used modded Audigy 2 drivers for my Audigy 1 a while back. MAde a WORLD of difference. Creative has been HORRIBLE when it comes to drivers. They haven't released much in the way of Audigy drivers for years, until recently. They really need to get on the unified driver bandwagon, and discontinue their old practice of having certain applications work for certain cards. Anyhow, off the soapbox for me. I can't wait to get an X-Fi Elite Pro in the future....