http://bugs.winehq.org/show_bug.cgi?id=32378
--- Comment #4 from Andrew Eikum aeikum@codeweavers.com 2012-12-11 07:24:56 CST --- Thanks for the detailed report and logs.
Everything looks okay from the Wine side. We're using the ALSA device named "default". Can you try with another program? For example, try running: aplay -D default Some_Wav_File.wav and see if you get audio.
Since you're using PulseAudio, consider running the mixer program (perhaps "pavucontrol") and ensuring nothing is muted.