I see the same issue on 12.10 quantal, switching from hdmi audio to analog 
fixes it. 
lspci shows:
01:05.0 VGA compatible controller: Advanced Micro Devices [AMD] nee ATI RS780L 
[Radeon HD 3000]
01:05.1 Audio device: Advanced Micro Devices [AMD] nee ATI RS780 HDMI Audio 
[Radeon HD 3000-3300 Series]

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https://bugs.launchpad.net/bugs/930617

Title:
  All videos on computer play at double speed with no sound.

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