Hi spacejocky, I'm getting as frustrated as you with not being able to fix something which should be easy.
The fact that everything is working OK if you log on as a different user, means that there's nothing intrinsically broken. Humpty has the right idea that something just needs a kick up the arse to get working again.
Yesterday, I found 4 separate occurrences of exactly the same problem, and I mean exactly, right down to being able to log on with different user, and sounds being OK. None of them found a straightforward solution.
However, one of them did cure it, but he has no idea how. He was mucking about with something, and didn't realise he'd fixed it until he next emptied his recycle bin. Dam.
I thought this might be worth a go to jog something into life.
I've just spent the last 20 minutes or so trying this myself, to make sure it's as straightforward as it seems, and it's OK.
Go through the services.msc again as above, until you get to the "Windows Audio" again.
Right click, select properties, and where it says "startup type", it should be set to automatic. If it isn't, then set it to automatic, and reboot.
If it already is set to automatic, from the drop down menu, select "disable". This will disable the sounds that include the recycle bin. Then reboot. All sounds should be now disabled.
Go through the procedure again, and set the tab to automatic. Then start the service again, either from a button on that page, or in the extended window, from the blue highlighted menu on the left. Make sure it's started again.
Reboot again, and all sounds will be back, and if we pray hard enough, the recycle bin sound may have been kicked back into life.
I've no idea if this will do anything, but I've just gone through the process to make sure it won't hurt anything.
Good luck.