The touchpad does work, you just have some features enabled that could
result unconfortable, depending on your preferences.
Check this post, it will explain how to configure it:http://forum.sabayonlinux.org/viewtopic.php?f=56&t=16817
even if it was originally aimed at Sabayon 4.1, it should work on 4.2 too.
I can't help you with your network issue, could you provide more infos?
Like your card model, the output of lspci, if the network is encrypted or not,
and so on.
Some users solved their problem changing NetworkManager with wicd.
The wiki explains how to do it:http://wiki.sabayonlinux.org/index.php?title=HOWTO:_Replace_NM_with_WICD