I've had a squeezebox based setup for quite a few years now. I love having the ability to play music in almost any room in the house via squeezebox players - I have several hooked up to various music systems around the house, connected to my home wifi, and they're simple to control with the iPeng app on an iPad or iPhone.
I don't subscribe to any audio streaming services, but I believe it can be setup to play from the likes of spotify and various other sources.
It works fine with my carefully ripped CD collection to lossless Flac audio held on a QNAP NAS. Setting it up can be a challenge if you're not the technical type - you need to be able to install Logitec Media Server on your NAS and configure it correctly for your Squeezebox Touch.
It's quite old technology by now - Logitech stopped making it some years ago. I recently bought a used touch radio and downgraded (in my view upgraded) it from Logitech's UE to Squeezebox to work with my NAS setup. I also got a couple of the squeezebox players to act as spares. There are no moving parts so it's very reliable. The only failure I know of was a friend's setup where the mains adapter failed. Easily replaced.
If you're not interested in lossless compression and critical listening, and all your rips are say, AAC or mp3, I would say it wouldn't be worth it. Install Twonky server on your NAS or something like it and listen via anything that can connect via DLNA round the house. Squeezebox does also play AAC and mp3, as well as Flac, in fact it plays many audio formats.
Starting from scratch and wanting to go for lossless compression, these days a Sonos based system might be worth it. Though a new Sonos system would be very expensive (Sonos was always expensive compared to Squeezebox).
If your collection is lossless, then I think it would be a good, inexpensive option.
