Commit http://svn.reactos.org/svn/reactos?view=rev&revision=52098 by Sir Richard caused the regression
http://www.reactos.org/bugzilla/show_bug.cgi?id=6292 that is marked as blocker.
I have reverted this commit (and applied hachfix for driver setup fixing) and now ReactOS boots and sound is ok.
Could you, Sir Richard, look at the report and fix the bug?