Can you take a picture of your setup and post it here?
Are you using an SD Card or a Micro SD Card in an adaptor?
What's the error code thrown out by the BareMininumWithDebug example, error code: 1 or error code: 08?
if it is error code 1, if your not using a shield, check your connections and contacts with the SD-Card pins. if it is error code 8, try level shifting using 1.8k and 3.3k resistor.
I recently had a problem with my setup above using CD4050. So i ditched that setup and use resistor divider with above values. I am using a micro-sd on an adaptor.
also if no error code and it is saying in the serial monitor "Initialising SD card...Wiring is correct and a card is present....... playing EXAMPLE.AFM.found.playing" lean-in, or put the speaker, closer to your ear, the audio volume is quite low. that it can be unnoticeable when your in a noisy environment.
and my *duino is even more crappier than yours
and it's from five years ago...http://arduino.cc/forum/index.php/topic,24039.msg181921.html#msg181921