In order to allow sound over low bandwidth links, we should support compressing the sound between the server and the client. The big technical obstacle here is how to correctly calculate latency with a compression and decompression stage in the pipeline. It will require some research to determine how much time is needed for this bug. Citrix has some basic compression, but the quality isn't that great.
I had a chat with Lennart about this at LCA and he mentioned that he was discussing integration with some new stuff in libspeex that would be perfected for compression in Pulseaudio. So for now we can just sit back and see how that progresses.
PulseAudio now supports pass-through, but no work has been done on live compression. So it probably falls on us to do this. And it probably needs a ThinLinc component on the server end (bug 4194).