All that might be interested, Slim Device does not support MediaMonkey as a media player. After speaking to Martin at Logitech in detail, he mentioned that the way and only way is to find the file to were MediaMonkey download file is located on the C drive go to "basic setting" in squeeze center under music folder browser left click mouse and underline MediaMonkey file. Than rescan music to squeeze center.
It would be great if Slim Device would upgrade there software to support beyond AIFF and allow us as their supporting consumers to enjoy HI-RES music.