Based on experience with my Reciva based Logik IR100:-

It will play back internet radio stations using OGG, must admit I haven't tried audio files.

Yes, if the Reciva web site goes titsup I think you're left with a media streamer.

Mine has worked using Tversity and Twonky UPnP SW, although the latest FW is causing issues. Stiil working with WMP11 :-/