The Camera Kit only outputs USB. The Wadia will output Coax, Toslink, and AES/EBU.
Still, the new Wadia is overpriced IMO. The Cambridge Audio D100 does all that, has a nicer form factor, a better remote, and costs $300.
Important Note: At this time, the iD100 is not compatible with the iPad 2. Cambridge Audio is aware of this issue and is working on it.
what a shame, it looks like such a nice and affordable device