The QED Live uPlay uses the apt-X streaming audio codec which gives a better sound than its bluetooth receiver competition. When paired with an apt-x capable device it sounds less compressed. Apt-x is hardly common though. Even when not using apt-x the sound is better than devices such as the belkin bluetooth receiver. Although the QED then suffers from more compression is is overall a better build than the belkin. Plug it into a power supply and plug the 3.5mm stereo jack into RCA amplifier inputs using the supplied cable and you are ready. Connection and listening in the same room is pain free.
However despite all the glowing reviews the QED device doesn't sound as good as a basic cable. You can still hear compression and artifacts in noises such as cymbals. If you are after sound quality on the cheap, stick with a cable between your laptop, iphone or ipod and hi fi.
If you wish for cable quality in wireless then you need to keep away from any bluetooth technology altogether and go for a device such as LINDY USB Portable Wireless Audio System which uses wi fi (bluetooth 3 devices may put bluetooth back in the frame so maybe wait for an updated device if you are planning on getting a bluetooth 3 phone).
If you wish to improve the quality of your audio device and wirelessly plug it into your hi fi then you need to spend more money I'm afraid. The key part of a device such as the squeezebox is that it has a digital out and can transmit the music digitally to the dac part of a good quality hi fi (any dac, 2 channel amp or surround amp with a digital in). This setup makes music from an ipod, iphone or laptop sound better than they can via an analogue cable. The QED just cannot compete. So if you have a digital input in your kit and are after quality this is the area you need to look into.
If you do not have a digital input in your hi fi and want wireless with quality then you need to be looking at wireless dac devices such as the Arcam rdac, which offer breathtaking quality for the price, and would also improve your tv and most old cd player sound as well.
This kit has its place as one of the best bluetooth devices, but it will dissapoint through any budget seperates kit or anything above. Be midful of what level of quality you are expecting. Mini hi fi's or plastic speakers with built in amplification from the likes of creative will pair quality wise fine but when tested on 3 hi fi's consisting of arcam, roksan, cyrus, dali and spendor kit the sound quality was poor.