So I had Airplay / Airtunes set up using an Airport Express but my home PC was stolen, and a PC running iTunes is required so I can no longer play audio through my home stereo system. (The Airport Express has a mini 3.5" out which a cheap $3 cable will convert to RCA). I purchased a new AppleTV(3rd generation) and it only has HDMI out for video and Optical/Toslink out for audio so I can't connect it to my stereo/receiver RCA inputs (Thanks Apple! You know not everyone has a brand new TV and stereo!) Apparently the AppleTV version 1 had RCA out. Will this let me use Airplay/Airtunes where I can output wirelessly audio from my iPad / iPod Touch to the AppleTV and hear it on my home stereo? I think Apple is forgetting some people won't even hook AppleTV up to their TV! I went in to my local electronics shop and they said the only way to get my current AppleTV to work is with a converter box that cost $68, even on Monoprice.com it is going to be around $20 and then you have to plug this separate digital to analog device into a power outlet and buy 2 cables one for each end--sounds like too much trouble. I'd rather just plug in a set of RCA cables to apple 1st gen and be done with it. If this will work I'm returning the Apple TV 3rd gen and I guess looking for a used 1st.