I'm having a similar problem. Here's what is output when I run
killall esd; et; esd

Code:
------- sound initialization -------
------------------------------------
----- Sound Info -----
sound system is muted
1 stereo
32768 samples
16 samplebits
1 submission_chunk
44100 speed
0x0xed7cf000 dma buffer
No background file.
----------------------
Sound memory manager started
Sys_LoadDll(/home/yanek/.etwolf/etmain/ui.mp.i386.so)...
Sys_LoadDll(/home/yanek/.etwolf/etmain/ui.mp.i386.so) failed:
"/home/yanek/.etwolf/etmain/ui.mp.i386.so: cannot open shared object file: No such file or directory"
Sys_LoadDll(/usr/local/games/enemy-territory/etmain/ui.mp.i386.so)... ok
Sys_LoadDll(ui) found **vmMain** at 0xebc3df40
Sys_LoadDll(ui) succeeded!

Having a bit of problems, any suggestions. Tried the steps above, correctly as far as I know and still no joy. Would appreciate a leg-up.