I think I've heard of a similar problem, but that was a long time ago and it was with XP. There was a conflict with the ant-virus/firewall that caused the sound to disappear.
I'd would recommend that you start the game, and when that start menu appears alt+tab out to the desktop. Browse to your 7.62 folder and open up the \log\somenumbers.log file and see if this line is there:
"00:00.423 INFO [0] .\SoundSystem.cpp (122) Creating and initializing audio system succeeded"
If it says "initializing audio system failed" or something it might give a clue to the reason why it wont initialize.
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