Why you gotta hate Chris?
There's no need to hate on other people Chris. This is a Forum for learning. This guy came to learn. He's apparently new to recording I would assume and it also seems he's a bit new to gear.
Now, to help you correctly Fusion, The adaptor he mentioned isn't necessary. Your Audigy drive (as you noted) does have a 1/4" input on the front. this is a mono input with a built in Preamp. Any documentation that you need to produce an audio signal would be supplied with your card. But This wouldn't be a discussion forum If I didn't help ya. heh'... Ok, Of course you plug your guitar cable directly into that (unless you want to hook a mic up to it and mic your amplifier) but I think for learning purposes it'd be best just to plug directly in.
Ok. now that your connected. you need to open your Audigy "surround mixer". make sure that the "line in2/Mic2" is selected in the far right collumn. it's a collumn that's separated from the rest. This is your "record ready" device. That means that teh Audigy software will make this particular input your default input. Cool Edit will see that your "line2/Mic2" input is default and it will listen to that input for sound.
Also, you will need to make sure the mic input is unmuted and that its turned up if you want to hear it out of your speakers when you play.
See the attached picture for reference when setting up your "Surround Mixer"
Remember, the mic/s input does not have to be unmuted to record but it does if you want to hear what your recording thru your speakers. Also remember that the way to turn up your guitars input volume (or down) is the far right volume slider (REC level)
Now, In CEP right click on the level meter on the bottom and select "Monitor Record Level". this is a way to see if your guitar is comming thru to CEP. (You could alternately just try to record something and if it shows up then your set

)
I think I pretty much covered it.... If you have more ?'s abt how to do this then Don't hesitate to repost here on this, (your) thread. Also, Don't mind people like Chris. They sometimes forget that everyone has to start somewhere.. besides.. I bet your guitar playing it better than his anyway.. sry had to say something back to a hater.
Good Luck and rememebr to post back with the results.