For more clarity:

type soundcard compatible speakers are compatible with the
Griffin Firewave on iMacs with Firewire. That includes all iMac G4, iMac G5, Intel iMacs, and iMac G3s in
Apple's article 58207 that have Firewire.
5.1 speakers systems that come with a SPDIF port are compatible with
http://www.monstercable.com/computer/productPageComputer.asp?pin=2809
and the minijack found on the back of iMac G5s and iMac Intel Core Macs.
Speakers that can work with:
http://www.radioshack.com/product/index.jsp?productId=2102970
Will work wtih any iMac. Radio Shack offers RCA adapters to that cable that will work with practically any two-channel speaker system.