I'm currently having this problem.
When I started I got some dialogue - maybe 1 in 3 lines during the intro, but since then I've only been able to tell what is going on through the subtitles options.
I downloaded the latest graphics updates first (which then completely broke the sound with the game refusing the launch).
I then downloaded the latest sound drivers for my motherboard and have atleast been able to get back into the game. all of the game world audio works, radio stations, gun fire etc, just none of the speech. Tried googling the issue which points at fddshow and disable it, but I didn't have that in the first place.
Intel Core 2 Quad Q6600 (2.4 GHz)
Asus P5Q Pro P45 mobo (onboard 7.1 Realtec ALC1200)
4GB DDR2 1066MHz
ATI HD4850 512MB (using 10.10 drivers)