The new sound panel landed in Ubuntu 12.04 LTS
The sound menu has just been redesigned in Precise Pangolin, with a completely new interaction approach, marking the actual implementation of the last weeks' mockups.
Under System Settings-->Sound, the "old" Hardware category has been repositioned, the new categories featuring a more simplistic look, yet without any configuration loss.
In Input & Output the adjusting section is located on right.

Various sound tests can be performed via Test Sound.
Worth mentioning
The new sound panel will appear in System Settings only under Unity session (if you choose GNOME at login, System Settings will display the "old" sound interface).




