Short: No

Long: Yes. You can stream the contents of your empeg to your computer over ethernet just fine, but you can't use the empeg software to controll it. Invesitgate charcoalgray's web interface. There is no way to capture and reencode the output from the player app and stream that. (at least at the moment)

Now, the other way around is what I want. I want a windows sound card connected by ethernet.

Matthew