it works but i seemed to be getting a ton of feedback when I used the hifi with my imac.
You shouldn't be getting any feedback at all. You didn't plug it into the mic input on the Mac, did you?
Do you mean some other kind of signal? e.g. hum?
Sure, it's feasible. The only cost-effective options you have are either an Airport Express and a shielded mini-jack to mini-jack cable if you want some distance between you and the iPod HiFi... or just the mini-jack to mini-jack cable on its own which you plug into the headphone socket of the MacBook.
Here's an example, not necessarily a specific product recommendation.
It's what I use whenever I feel the need to have my tunes from my MBP on the iPod Hifi. Cheap (mine was - about £11 rather than my example!) and cableless.
I hate to bump an old thread, but I'm curious about these adapters myself.
I've been using airfoil for VLC(w/delay) and Pandora, as well as AirTunes on my MacBook and love the lack of wires dangling around. However I spend a lot of time on Hulu but it has no options to get around the audio delay like VLC. Will using a bluetooth adapter like that solve the issue, or will I still find a delay of some sort? Thanks.