The problem did return, even though the HD drivers were disabled. I believe, however, I have found the actual culprit: Remove DC Offset During Record.
This morning while recording I noticed the distortion was back. I double-checked to make sure the HD drivers were still disabled. I disconnected from the internet. Turned off my anti-virus. Stopped the Search service. Anything I could think of. Nothing resolved it.
Then, on a hunch, I disabled Remove DC Offset During Record. NO DISTORTION!!! I then re-enabled it... distortion! So, although I'd still like to figure out what's causing the DC offset, I at least now know what's causing the distortion and how to resolve it.
Thanks, Everybody, for your input. Glad to finally be done with this one.