Its not very feasible and the price that MSB charges for s/pdif is fair even in the thousands. A new thread pops up like this once a week.
The corda move sounds better out of analog and there is no option to hooking up the iPod via USB unless you run it through a computer using the iPod as a storage device. Honestly, S/PDIF or USB for an iPod just isn't worth the time or money. Buy a Pico and a portable handheld computer for your money. You can even get cool viewfinder sunglasses.
