I booted Gutsy LiveCD on my desktop today and I can confirm that this bug is still active in Gutsy. It's still very easy to fix though, just double-click the sound icon and inside "volume control" dialog you select the "Switches" tab, and finally you uncheck the checkbox called "Audigy Analog/Digital Output Jack". Sound will starts to work right away when you uncheck this checkbox.
I booted Gutsy LiveCD on my desktop today and I can confirm that this bug is still active in Gutsy. It's still very easy to fix though, just double-click the sound icon and inside "volume control" dialog you select the "Switches" tab, and finally you uncheck the checkbox called "Audigy Analog/Digital Output Jack". Sound will starts to work right away when you uncheck this checkbox.