Yesterday, for reasons I cannot explain myself, I upgraded my Skype (for Windows) from version 4.0 to the latest version 4.2. In about an hour, I noticed that it didn't ring if my speakers were off. I definitely did not like it because, unless I am listening to something or watching a video, I try to keep them off. I thought that my setting Ring PC speaker had gotten cleared during the upgrade. I was in for a surprise: the option was not even there.
I downgraded to 3.8, which I had saved on my hard drive, but it was too ugly.
So, if you want your PC speaker to ring, but you refuse to put up with the ugly interface of version 3.8, here is the solution: