Settings below are not required for Ubuntu 11.10. Everything work out of the box.
Solution:
for wireless:
Download package from https://launchpad.net/~markus-tisoft/+archive/rt3090/+files/rt3090-dkms_2.3.1.3-0ubuntu0~ppa1_all.deb install and reboot.
for audio:
Run the command below then reboot
$ sudo apt-get install linux-backports-modules-alsa-lucid-generic
Update 14/11/2010:
Just found out that after updating the system, wireless is broken again. To fix this, reinstall rt3090-dkms package.