I also have an Asus Pundit P1 AH1 barebone ("nVidia Corporation MCP51 High Definition Audio" card, with "Realtek ALC 861" chip), like IK81 does. I've installed Ubuntu Dapper for AMD64 (using ALSA 1.0.10-4ubuntu) and I'm also having problems. No sound comes out of the box, only the box speaker beeps when expected
I'd like to try the solution proposed in the answers to the bug report xopen did, but the ALSA-Project web page seems to be down since last friday
I'll inform you if it works.
I cannot access that computer right now, but I'll try to send more information later.