Esteemed Arcus has a potent player in the game of CD ripping audio servers. This one can copy CD onto its internal hard drive, back it up onto a network attached storage and play it back in a number of formats, including Flac and Ogg-Vorbis.
Wireless communication is done using a USB Wifi dongle. Not exactly elegant but at least it lets you move the antenna to higher ground for good reception. Identifying itself over uPnP, other streaming clients can take advantage of the device.