I really like the sounds, although I'm sure some of them could be improved by volume balancing etc. I think I have a good experience with the sound in general, given that many people seem to be missing things.
1) I can hear footsteps OK usually, both inside and outside. Much clearer inside though, on wooden floors especially.
2) I get the long, drawn-out death moans - but I don't think that was always the case. I'm not sure when they came back for me really.
3) Distant gunfire is nothing short of amazing, especially when there's a lot of it. Gorgeous echoes, pitch changes, tone changes. Distant tank fire sounds like it's coming straight from hell
It seems the gunfire defies physics too, which is great for gameplay - there seems to be no delay from a gun fired @ 200m+, to the target hearing it. Unrealistic yes, but absolutely perfect for a game environment IMO.
I hope this experience can be improved for those who aren't getting the full deal - but since RO2 uses "software audio", I fear any improvement for those who get currently sub-standard sound, will mean a drop in general CPU performance. It could be an unwanted compromise.