I just figured out how to get the sound working in Bioshock after the plane crash. So heres what you got to do. First you'll need to make sure you've allow Microsoft DirectX to install on your computer. You know how after you install a steam game the DirectX install thing shows up every time. Well, you'll need that for Bioshock to work properly. Then for some random reason if you're running Win7 x64 you have to set the compatibility to Windows 2000.

To do that you'll go to:

START -> COMPUTER -> LOCAL DISK (C:, or what ever drive you have steam on) -> PROGRAM FILES X86 -> STEAM -> STEAMAPPS ->
COMMON -> BIOSHOCK ->BUILDS -> RELEASE

In there you should see the Bioshock logo with the Bioshock app (9,700KB). Right click it and go to Properties. Click on the Compatibility tab at the top of the window. Then click the "run this application in capability mode for:" check box after that use the drop down box and select Windows 2000.

I hope this fixes your issue too.