1.To fix(almost) sound issue, configure wine: Configure this Application->Configure Wine->Audio->change 41000 to 48000 and check both ALSA and OSS.
2.In URU, use default graphics, remove Anisotropic Filtering, and un-check Vertical Sync, then change resolution according to your monitor.
3.Minimize sound effects, and remove ambient sound. You may also disable voice chat if it's not working. Use OSS instead of ALSA.
Note: The mouse cursor is not supposed to be, showing only a white box, and stuttering sound effects.
Good news is, they're going to open source URU Live, so please support them.
For more info, go to www.urulive.com