Grace Digital Audio has a new micro shelf system with stereo speakers called the Grace Wi-Fi Stereo Micro System (GDI-IRMS300). The system has integrated Ethernet connectivity and supports 802.11b/g/n WiFi as well for wireless streaming. The radio has FM, AM, and HD tuners for tuning normal stations and it has the ability to stream just about anything from the web.

The system supports Pandora, Rhapsody, NPR, Sirius, and a lot more. The system can tune about 50,000 radio stations in total and it has 16W of peak power. Each speaker has a 3.5″ main and a 1″ tweeter. Other features include a dual band EQ, support for all sorts of digital file formats, and a media player that can stream tracks from your computer. The system retails for $249.99 (USD), but you can already find them over at Amazon for under $190.

With a full subscription to the Rhapsody-To-Go service, you’ll be able to download over 4 million tracks wirelessly to your player whenever you’ve got a Wi-Fi connection. The player also has built-in bluetooth for wireless headphone connectivity. The player offers a bright 320×240 Samsung color display, and can also play back video content from the Rhapsody store. Like the Zune, it’s also got an FM radio with RDS service. It’s even got a web browser built in, but I can’t imagine how challenging that would be to navigate sans keyboard.

The biggest turn-off here is the $229 to $319 price tag on the players (substantially more than iPods and Zunes with more storage). However, the integrated music store feature does look pretty sweet if you’re okay with a subscription-based music service.

The 30GB Ibiza is now available from gadget importer FirstToYou. You can also find the lower-priced 4GB and 8GB flash-based versions of the player from Amazon.