First post here, before anything else, much thanks to Ted for all his help!
I've created a video of the ripping process from installing the firmware through streaming to a DAC. Most of you here have already gone through and gotten things to work but hopefully this'll encourage readers who are on the fence.
Caveats: not shown in the video are setting up a PS3 to connect to a home network; ripping to USB thumb drive; and configuring both the music players and DAC.
And finally, the video isn't too sharp, I had inadvertently turned off auto-focusing for the camera and it carried over into movie mode. So it's probably best to watch this at 720p full screen.