Comment 2 for bug 696888

Update: 1-14-2011
After combing several forums, I stumbled across a solution for the headphones. It comes from an older ubuntu os,but the problem was similar. However, I cannot confirm, or deny if the microphone works.

The newest part to the solution, is:
Adding the following line to etc/modprobe.d/alsa-base.conf :

options snd-hda-intel model=ideapad

hope this helps someone else