I have been very disappointed with the range of 802.11b. As soon as you have any structures (walls, etc) between you and the WAP, the range drops severely. It is practically line-of-site only. Bandwidth drops with range / signal strength. You will only get the full 11 MBPS if you are in the immediate vicinity of the WAP. Battery life is another big issue. If you enable power saving mode on your CF 802.11b card, you will greatly reduce the maximum bandwidth (I think that cuts it down to a max 2 MBPS on my card). There is no way what you want to do would be feasible without power saving mode, but then the bandwidth would be so low that the load times for games like Quake would be extremely long. It may not even be possible to stream a 128kbs MP3. If you are playing games off of the network, and just for a moment you lose your connection (which can literally occur just by changing your position by a few inches, or turning your back to the WAP), then the game will probably crash, or at least exit, because it can no longer access the data files.
Theoretically, it is a good idea, but WiFi did not live up to my expectations at all. You will find that in most corporate settings, they have many Wireless Access Points to provide the coverage they desire.
Dan East