After playing around with alsa (.asoundrc) to get my micro working I couldn't even start wow with alsa enabled any more (the blue bar in the loading-screen didn't load up)
I then found out that teamspeak, audacity and all my other sound-using applications are using oss instead of alsa (especially for recording).
So when I configure wine to use oss and start Wow afterwards using the "aoss wine wow.exe" command it works better than before (with oss alone I'm getting no sound at all - strangely I have to use aoss).
The sound is flawless and the micro can be selected and even the test-recording is working. I hadn't had the opportunity yet to find out if I can be heard by other players but the test-recording working is more than I had before
I'm still gonna try to find out why alsa isn't working currently but its probable that its related to my onboard-chipset and not to wine or wow.
Edit:
Oh and the new scheduler of the 2.6.23 kernel is great - I can even run a emerge -uD world while playing without more disturbance than an occasional stutter.

Before I had around 2 fps and long lags when compiling while wow was running - it was unplayable.