I have a Thinkpad T60p which is working really well for me. On it I've run various flavors of Ubuntu and as of a couple of weeks ago I put on Ubuntu 8.10 which has been working very well too except that I didn't get any options in the Preferences menu to switch off the damn loud system beep. The beep comes through the speakers and at a much much louder volume than any other sound or music.
I tried changing thins in BIOS and I tried installing various packages hoping one of them will give me the options. Finally I've found out how to disable it:
$ sudo modprobe -r pcspkr
This tip page showed me how to put it into
/etc so it's applied all the time. Thanks Andy!