sound quality in new version

[anci]

I upgraded to version 1.0.1 this summer, and since then I cannot play videoflies, audiofiles or DVD:s with VLC on my laptop. The sound is so distorted its unintelligible. Music is even worse.
I uninstalled, downloaded a new copy (same result), then I downloaded 1.0.5 - I still have the same problem. Upgraded stuff, changed all settings and resources I could think of. Nada.
To give you an idea, anyone speaking sounds like a prawn from District 9. (Or a geonosian from TPM. Eeek.)
This laptop doesn't have any flashy sound (it's what I believe is called on board audio) but I have no problem watching and enjoying any moviefile /DVD using other software (anything from Real to PowerDVD; Mediaplayer, playing iso:s on virtual DVDplayers) nor do I have problems with streaming media from the web, Flash, Quicktime, anything embedded on websites.... it's limited to VLC.
Is there any solution, or is the earlier version (0.9.?) available for download anywhere? I cant find it. It worked perfectly from day one, with excellent sound and video quality, and I miss it...

Most grateful for any helpful hint (on a not too far advanced level).

[Arite]

Delete VLC's preferences and cache files (when VLC isn't running) by going to (enter into Windows Explorer address bar and press Enter):
%appdata%

And delete the "vlc" folder. Then open VLC and try a file.

Arite.

[MacEachaidh]

Arite,
Thanks very much for your reply to anci. I came here intending to ask help for a problem I've been having with VLC 1.03 (horizontal motion smears in the display, making it necessary to manually reset the deinterlace option every time I launch a new file or disc) and decided first to try your suggestion of trashing the preferences and then launching the app, and that's cleared up the trouble. I had to recreate my user settings, of course, but that's a small price to pay.

Thanks again for your help!