If you want an AirPlay receiver on the cheap, you can’t go wrong with Apple’s AirPort Express, a $99 dollar portable wireless access point (great for an apartment or traveling business person) that has a 3.5mm minijack for an audio or optical connection to a pair of speakers or your home receiver. For another hundred bucks (as a part of being an early adopter), you could fair even better with playGo’s audio-centric playGo AP1: an AirPlay and DLNA receiver that can output lossless audio through analog RCA outputs, a 3.5mm minijack, or TOSLINK to your preferred thumpers of choice.
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