Can't play or preview music and movies in Finder window

I notice I can't play or preview music in the finder window. When I hit "play", the slider moves, but I don't hear any sound. Music is playing fine in iTunes. I also can't preview and play movies in the finder, like .mov files. In addition, I can't play music in a slideshow in iPhoto. It is also mute there. Does anyone know what is wrong? I just got this MacBook and had done a firewire transfer of my application files from my iMac desktop. All the programs seem to be working fine except for this music and video problem. Is there a problem with quicktime?
Thanks.

Run Audio MIDI Setup (Utilities folder) and be sure output is set to 44,100Hz 16-bit, and the volume sliders are to the right.

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