Hello,
My sound card is Creative Vibra 128. When i open the audio properties i can see a visual area near the wave and synthesizer. Visuals just like simple bars are displayed here when i play sound using wave out plugin. But when i use wave out plugin i canno simultaneously play other sounds . It tells me that that the device is already in use, but if i use direct sound plugin. ican play many sounds at a time. My friend has a yamaha sound card and it does not have a visual panel in the audio properties and can play sounds(or songs)simulataneously using wave out. IAlso when i use wave out and set the BASS to full, then i hear bass as i would here when i set the preamp to full i.e distorted. Is there a way that i can play the songs simultaneously using wave out ?

Maybe lowering the priority of WaveOut will help.

Try, in the configuration of Wave out, to select "Wave mapper" instead of your soundcard as device. There's little hope though.
For the bass, it is normal. Doesn't it happen with DirectSound ? Then lower the volume before increasing the bass.

Hope it helps