I thought the iPad is wifi based , but I can only do the sameby installing an Air Play server on my PC and have another Apply lump of bloatware slowing my system down. My big gripe with Apple is that device are not self contained. You need iTunes on your PC that you have to sync with your iPhone or iPad or both often ending up in horrendous autorisation knots. The softare on the device should do the job independently . Yes you can sync between machines but that should not be mandatory.
Oh yes and the iPhone 5 has a different connector to prior iPhones , when other manufacturers are moving towards a standard USB connector. So god forbid that you leave your charger at hone.
So I wont be using my iPad as a streaming player anytime soon , like I can do with my phone.