Not really solved, but a workaround.
hdspmixer from
http://packages.ubuntu.com/precise/alsa-tools-gui
does work for US 11.10 too, but as expected there was no audio output,
so I installed a pulseaudio dummy package I build for Debian testing,
now audio out is ok, without the need to compile anything or even to
build a dummy package with equivs.
The test was done with http://www.youtube.com/watch?v=u2Gwp9qkoAQ

.
Regards,
Ralf
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