With a reclocker like Synchro-Mesh, you could use a stock Sonos, squeezebox or AppleTV.
Only after gutting and modding the piss out of them (ala Boulder)....
There is a misperception of the Z at work here. It is a highly modded entity with its own master clock, dual power supplies (one of the clock), proprietary shielding, etc, etc. According to the designer, it is a low jitter affair. The French audiophile who turned me onto it used to own an Empirical Audio offramp along with a highly modded Squeezebox, and the Z thumped it. He also did shootouts with Weis, Alpha Berkley, etc, etc. The Z was found to be superior. Dan from dbSystems has developed a plug-in the hacks Airtunes to circumvent the downsampling to Apple Lossless during transmission. I own it and it is much better than stock Itunes and even Pure Music.
You can tweak the unit further by putting in a synergistic fuse, and floating the transformer on audiopoints. I have also pondered using the Bybee music rails to lower the noise floor further.
WiFi is still limited in what it can transmit in terms of file type (RB only as far as I know). Hopefully Apple will uncork it soon. Its only a matter of time.
Since audio is an endless, open-ended experiment, you could always try Steve's new product and see if it improved things....