squeezebox and home network

From reading about Squeezebox, it seems such a good idea. However, my computer knowledge is very limited and I hope fellow Audiogoners can help me out a bit.

My home is a recently constructed and it is wired with Cat-5 cable and I can see wall plugs in every room where I can plug in a network cable. The sales manager told me that I can set up a network down in the basement where the cable and telephone wire come in.

If that’s the case, ie, I set up the network and any computer plugged into the wall can join the network, then I can just use Squeezebox Ethernet connection rather than the wireless connection, right? Would that improve sound quality somewhat?

Also, if I rip cd and store them on a hard drive, using EAC, no compression, what’s the size of the hard drive I need to have , say per 200 cd.

Thanks