The tiny MediaLounge DSM-120 Wireless Music Player uses 802.11b/g wireless or a wired network to stream your whole PC-based music library to another computer or any hi-fi speakers. For easy listening when your computer's off, just attach a USB flash drive or USB hard disk drive to the DSM-120 and play music directly from the external drive or do some tinkering and install a 2.5-inch internal hard disk drive that will let you use bundled D-Link Media Server Software and a utility to transfer your tunes from the computer, or use the One Touch Copy feature to do the same from a USB drive. Whew. That was a lot of stuff.
It includes all the standard audio-outs including optical and supports Windows Media Connect and Windows Media Digital Rights Management (WMDRM-10) that allow streaming copy-protected WMA-based music. Oh, and don't forget the alarm clock and sleep timer thrown in for good measure.
D-Link MediaLounge Wireless Music Player [Bios Magazine]
Specs and pricing for more D-Link wireless music players [Shopping.com]