Newbie's Possible Setup - Will This Work?

Hi

I am new to PC Audio systems and music servers and would like to integrate something into my audio system. Would the following work?

1. Source - Lossless files in FLAC, APE, WAV, Apple Lossless & lossy files in iTunes - all on external hard drive connected by USB or Firewire to MacBook

2. Wireless Access - Slim Devices Squeezebox Duet to pick up the data (how does this work? I currently only have a 802.11 b wireless router, connected to a modem which I use for internet access) , output via Toslink to

3. DAC - Mark Levinson No. 36 - using the Toslink input for this as my CD transport is already using the coaxial digital input.

Is the above a future proof, cost effective setup with optimal sound quality or are there other suggestions?

I hope to be able to take advantage of the Black Friday sales to pick up something so any feedback much appreciated.

Thanks so much