I use a similar device in the house, plays pc soundcard output (MusicMatch JB) to all stereos around the house (and car for 50+ metres up the road).
It is not cd quality, but it is very good fm radio quality. One I have is not pll tuned, this looks better. Got mine from www.nrgkits.com - the low power unit - they told me not to waste money on anything more powerful, and they're right. Good service.