Apple Airplay Sound Quality


What is the potential for sound quality via Airplay? Is this essential WiFi? Or Bluetooth? What technology is being used and what are the limitations? I've reviewed all the material I can find and don't see that information (in my own non-technical language, anyway).
Thanks,
Art
artmaltman
Can't wait till we have high end Airplay compatible transports. It appears that airplay is lossless (but doesn't support 24/96 it think). My only concern is regarding latency and jitter issues.
I think the direction that may prove popular are airplay enabled DACs, essentially a suped up third party version of the airport express.
I'm praying that PS Audio somehow implements Airplay into their PWD Bridge and upcomming digital lens. It would be a killer feature!
I understand that Airplay for audio is the same as AirTunes on Airport Express.
NKBG you are correct, it is really nothing new. It would be nice if they changed the software to be able to stream higher resolution, I don't think any hardware changes are needed.