Reduce radio volume on Huawei 8686 (Prism II)?

[MgFrobozz]

I'm using a new Prism II (Huawei 8686) on T-Mobile. Everything seems to work ok, except that the FM radio is DEAFENING. If I press the volume button, the phone displays a horizontal "Media volume" slider. Setting it all the way to the left gives me the same volume as setting it to the middle or all the way to the right. The volume is also fixed way too high in speaker mode.

Am I missing an obvious trick to setting the volume? Or is this a software issue?