Sound issues with distance

[xrend]

So, it seems like things that are happening directly to me or immediately around me I can hear just fine. Whether that be spell casts, or melee being attacked etc, and the combat music is just fine... but as you get further away from my character, and I don't mean far... I'm saying like the equivalent of 5 feet... it starts getting so quiet that I can barely hear anything. If I turn up my volume so I can hear those effects, when something happens directly to me it damn near blows out my ear drums.

Anyone else having this issue or know how to fix it?

Thanks!