Providing the Knobs
FC11 has some awesome stuff in its repositories that is not (but should be) installed by default.
"yum install padevchooser paprefs"
This gives you a widget called "Pulseaudio Device Chooser" which you can use to either publish your sound card on the local network or send your audio to other published devices on the local network. It's pretty easy to pipe all your audio to another machine - I don't yet see a GUI way to mirror your audio between local and remote. Bandwidth use seems to be pretty reasonable.
It's been possible to do this manually for quite a long time (with various sound servers), but maintaining different sets of configfiles based on where one physically is (for laptop users) is a shoddy solution. It takes some getting used to that your local volume control is not honoured - I am not sure whether it should be or not.
(this probably applies to those of you on other Linux distros too)
The volume issue should be solvable by making your volume control affect PulseAudio rather than your sound card's mixer. I believe there was an LWN article not too long ago (within the past month or so) relating to this, about a shift (at least for Fedora or Gnome) to a volume control that works at a higher level than we've gotten used to.