I don't have a lot of time this morning, so I think I'll briefly discuss what would be involved in applying the next few sound effects I see mentioned in the USB spec I'm referencing...
Simple 2D positioning can be achieved by adjusting the volume-ratio between 2 speakers. Going into 3D I believe would extend this principle to more speakers.
Reverb would involve repeating previous sounds with some sort of processing to simulate echoes.
1/2!