I'm having the same problem. I'm running Fedora core 4 and the sound works, but not from the CD player (KsCD is what I've been trying, but I've also tried Noatun).
I think the problem is in the mixer settings. Does anyone know the command-line program to run to get the gnome audio mixer? I'm running KDE and for some reason the KDE mixer doesn't have a control for the CD player.
Also, on a related note of question, why does the audio always start out muted or turned all the way down? I always have to turn the volume up whenever I log back in or turn off the computer. It's almost like I have to save settings for the audio, but I don't have a clue as to what or where I have to do.