Comment 3 for bug 107232

I suggest you to edit:
    /etc/modprobe.d/alsa-base
Adding the following line:
    options snd-hda-intel model=3stack-6ch

That worked for me, the volume is still not high, but at least high enough to be usable.
Possibly you have one of the other models available for this chipset:

ALC883/888
   3stack-dig 3-jack with SPDIF I/O
   6stack-dig 6-jack digital with SPDIF I/O
   3stack-6ch 3-jack 6-channel
   3stack-6ch-dig 3-jack 6-channel with SPDIF I/O
   6stack-dig-demo 6-jack digital for Intel demo board
   acer Acer laptops (Travelmate 3012WTMi, Aspire 5600, etc)
   medion Medion Laptops
   targa-dig Targa/MSI
   targa-2ch-dig Targs/MSI with 2-channel
   laptop-eapd 3-jack with SPDIF I/O and EAPD (Clevo M540JE, M550JE)
   auto auto-config reading BIOS (default)

I haven't been able to make the microphone work tho, the driver seem to have bugs in several areas.