I just installed FC3 on a new Sony S260 laptop. The soundcard is detected but doesn't work. Ive tried re-running system-config-soundcard but I dont hear any sound.

Here's the sound entry from running /sbin/lspci -v
00:1f.5 Multimedia audio controller: Intel Corp. 82801DB/DBL/DBM (ICH4/ICH4-L/ICH4-M) AC'97 Audio Controller (rev 03)
Subsystem: Sony Corporation: Unknown device 8197
Flags: bus master, medium devsel, latency 0, IRQ 9
I/O ports at 1c00 [size=256]
I/O ports at 18c0 [size=64]
Memory at d0000c00 (32-bit, non-prefetchable) [size=512]
Memory at d0000800 (32-bit, non-prefetchable) [size=256]
Capabilities: [50] Power Management version 2

Thanks in advance for any help...

it's probably just the volume control. See if you have all of the controls in your mixer app and see that they are turned up and not muted.