I have several hundred .wav files that show in Media Bay. When I try to preview these files the wave form shows at the bottom of the screen and the when I press play the cursor indicates that they are playing, but I don’t get any sound. Am I missing something in my configuration or is this an issue with Media Bay? 
David, use the Control Room outputs. Don’t fight the Cubase way. 
You do never ever need to use the control room for simply previewing media bay !
SO how do you get them to preview? Is it not possible?
Figured it out. I disabled the control room and it works.
Turned off the control room outputs and media bay now plays fine. Thank you