Brad,
Thanks for sharing the history of your exhaustive investigation. Before addressing the Airport issue, which I now understand to be your primary one, I am curious about your last paragraph. Did the surround podcast play back in surround in that test? In other words, is whatever codec Apple is using working through the Airport radio? I would expect it could be treated as an open protocol for bit-for-bit playback.
**Please forgive the lengthy following, but you sound technically interested, and it may ultimately help you to discover the issue if properly encoded 2-ch audio is truly not passing the Airport link.
START
In professional video facilities, audio and video are embedded using the HD/SDI protocol, which - on a single coax - carries the uncompressed HD video as well as up to 4 blocks of 4 channels each, for a total of 16 channels, 48k/16bit AES-format audio signals. Most common for surround broadcast is to use only eight: 5.1 plus an optional discreet Lo/Ro, which is a separate stereo mix. These are de-embedded within the studio into 4 AES 2-ch pairs so that the signals can be treated, re-mixed as needed and then re-encoded into consumer formats for broadcast and media creation.
Dolby creates the protocols and a pair of hardware processors for the Dolby Digital consumer format, for example, which I often use to send and record a full surround program at remote locations. The processors accept all my channels -usually in AES pairs, and create a Dolby E Format data signal, suitable for terrestrial (copper, fiber) or air (radio uplink) use. The Dolby E Format contains important metadata describing my intended overall program and LFE levels, etc and a timecode signal. This unit also decodes the result on the spot for quality check monitoring as well.
Wherever this Dolby E signal arrives (network control), it carries all information necessary to reconstruct my original mix, right down to my intended levels, in reference to digital full scale. A companion processor, the Dolby Digital Encoder, takes either the entire E-stream, including audio and metadata; or if available, the original discrete audio (pre-recorded with timecode for example) WITH the Dolby E metadata and creates the 2-channel signal suitable for distribution (media or air) to consumers for playback using surround receivers, amplifiers. END
It's obvious that Apple's codec should work flawlessly with the Airport. But the Airport also works just fine with non-Apple files, such as AC3. The question then is, in what format do you need to create your own content to use the Airport as a 'playback radio' for 2-ch encoded surround.
Which brings us right back to the top question in my response to you - did the surround podcast's, via the Airport, ACTUALLY play back in surround on your system? If not, have you scrolled through all the available decoders in your particular receiver/amp? I don't know what format was used on the podcast you have. That would be nice to know.
If you DO manage to hear surround on this 2-ch signal thru the Airport, then you should be able to remove the Airport from your troubleshooting and concentrate on finding a 2-ch encoding scheme to create the audio portion of the files for your original content. Once they work hardwired into your playback system, the Airport should have no problem with them.
Hope something here helps.
Peter