There are 2 major types. One type is a Wireless Network USB hub (connects via WiFi), while another type is just a plain Wireless USB hub (connects via a Wireless USB adapter). The latter typically has better compatibility, but is more range-challenged (range is similar to Bluetooth) and comes in bewildering variants.
Either would normally work, but as with most wireless technologies, range, reliability and performance could be affected by external parameters (physical barriers, interference, etc.). Going for a Wireless USB Hub that uses a "Certified Wireless USB" connection may be the safest route at the moment.
CD quality should be fairly easy as it is not very demanding, bandwidth and latency wise.
As for the sound, it'd be hard to tell. Granted that everything goes smoothly, you may get an improvement or a degradation depending on how stable the usb power and usb clock are, against what's directly available from your computer. You do get the advantage of galvanic isolation, on top of those.
