The guys over at RaspFi have managed to get a V1.0 out of the doors and they've done some great work at pulling together an almost idiot proof Raspberry Pi audio solution, including a really handy web interface for MPD.
The whole lot appears to work 'out of the box' I just downloaded the zipped image file, transferred it to an SD card (I used dd in linux but windows users can use Win32DiskImager which is a really straight forward little app to write disk images).
Popped the card in my Pi and once it booted I could log in to the music interface from my laptop by pointing my web browser at: http://raspyfi/ chose a preconfigured web radio preset and bam straight away sounds are being played out from the HDMI via my telly and in to my little 'trash' system.
If you're not looking for a streaming solution this is an incredibly good, quick, cheap and simple way to get a digital audio player up and running, it also works with a number of relatively esoteric DACs. If you want a streaming solution then I'd still recommend Madsonic/Subsonic (on a Pi or any other machine).