In my case, I'd really need to be able to ignore the new sound instances, so I added a try-catch, but my output is spammed with:
A first chance exception of type 'Microsoft.Xna.Framework.Audio.InstancePlayLimitException' occurred in Microsoft.Xna.Framework.dll
Any solution? This is very annoying!
P.S. : Finally, I decided to create my own "one instance limit" and set LimitInstances to false in XACT. No more first-chance exceptions. Of course, I hope Microsoft will fix "FailToPlay" so that it doesn't throw exceptions, or at least add a new choice...