Please give the output of:
rpm -qa "*pulse*" "*gst*"
and
ps aux | grep pulse

I've fixed the problem.  As root I did:

chmod a+rw /dev/dsp /dev/audio /dev/mixer /dev/snd/*

Since previous versions of Fedora worked without a+rw permissions, I suspect
that something else is amiss, but hopefully this info will be enough for you to
track it down.

To answer your request, the output of rpm -qa "*pulse*" "*gst*" is:
gstreamer-tools-0.10.15-1.fc8
pulseaudio-libs-zeroconf-0.9.7-0.17.svn20071017.fc8
gstreamer-plugins-good-devel-0.10.6-6.fc8
gstreamer-plugins-base-0.10.15-1.fc8
gstreamer-plugins-good-devel-0.10.6-6.fc8
pulseaudio-libs-0.9.7-0.17.svn20071017.fc8
pulseaudio-module-gconf-0.9.7-0.17.svn20071017.fc8
pulseaudio-libs-0.9.7-0.17.svn20071017.fc8
pulseaudio-module-x11-0.9.7-0.17.svn20071017.fc8
gstreamer-0.10.15-1.fc8
gstreamer-devel-0.10.15-1.fc8
gstreamer-plugins-base-devel-0.10.15-1.fc8
pulseaudio-libs-glib2-0.9.7-0.17.svn20071017.fc8
gstreamer-python-0.10.8-2.fc8
gstreamer-plugins-base-0.10.15-1.fc8
pulseaudio-module-zeroconf-0.9.7-0.17.svn20071017.fc8
pulseaudio-core-libs-0.9.7-0.17.svn20071017.fc8
gstreamer-plugins-pulse-0.9.5-0.4.svn20070924.fc8
gstreamer-plugins-schroedinger-0.9.0-1.fc8
kde-settings-pulseaudio-3.5-35.fc8
gstreamer-0.10.15-1.fc8
gstreamer-plugins-base-devel-0.10.15-1.fc8
pulseaudio-module-lirc-0.9.7-0.17.svn20071017.fc8
pulseaudio-utils-0.9.7-0.17.svn20071017.fc8
gstreamer-plugins-farsight-0.12.5-1.fc8
alsa-plugins-pulseaudio-1.0.14-5.fc8
pulseaudio-0.9.7-0.17.svn20071017.fc8
pulseaudio-esound-compat-0.9.7-0.17.svn20071017.fc8
akode-pulseaudio-2.0.1-9.fc8
gstreamer-devel-0.10.15-1.fc8
gstreamer-plugins-good-0.10.6-6.fc8

The output of ps aux | grep pulse is:
ed       11224  0.1  0.2 292520  4220 ?        Sl   14:26   0:00
/usr/bin/pulseaudio --log-target=syslog
ed       11228  0.0  0.1  46752  2204 ?        S    14:26   0:00
/usr/libexec/pulse/gconf-helper

Problem with pulseaudio/HAL/ConsoleKit. Punting to ConsoleKit, David knows where
that one should go.

I forgot to mention before that ps aux | grep pulse gave no output before I
changed the permissions on those /dev/ files.

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