Hi ejurgensen and others,
I have put the sources of my (command line) player on GitHub. You can find it here: https://github.com/ErikOnBike/light-play
The player can only play ALAC files to Airport Express devices right now. I might add AirPlay support in the future (ie stream AAC audio-files to more modern AirPort express devices or AppleTV devices).
The player is very low on resource usage. It does not perform any music transcoding (streams directly from the m4a-file) and no encryption (ignores all optional Airport Express authentication stuff). Passwords on the Airport Express Music streaming is supported.
The player is developed and will compile on a Mac (with Xcode command line tools or MacPorts). It compiles on OpenWrt and uses around 1% CPU on my WNDR3700.
The coming time I will try to turn the player into a little server with a web frontend. Afterwards I might try and add AirPlay support. Since I do not have an AppleTV, this is less priority. It requires some rewrite of the network code (since AirPlay is UDP based and requires more timing stuff to be handled). Difficult to test without a real device ;-).
Cheers,
Erik