It's hard to generalize on that. There are many good USB audio implementations from M2Tech, Wavelength and dB Audio Labs, among others.
You mean that these implementations do not hit the cpu? Or put greater limitations on cable length than the alternatives? I think those objections are true regardless of implementation. USB as a bus system is a bit of a nightmare (it can actually freeze your computer, for starters! When did your firewire or optical ports do THAT.).
btw "hitting the cpu" means that the ability to play things back will depend on your computer. Ethernet (which is what the squeezebox and so many others use) has no such reliance; neither does firewire (which is why the music industry went with it since the start, though they may not necessarily know it if you ask them

).
Basically, a USB path will always be playing catch-up with the others. The main reason to consider it is because it's popular, and the main reason it's popular is that it was pushed by Microsoft back in the day so as to displace firewire, and the peripherals industry will do anything to get a "works with (insert latest Microsoft OS)" sticker on their gadget (a familiar tale). So wrt music playing, now there are (finally) vendors that are willing to go with it, and their marketing materials never bring up these issues.
Don't get me wrong, it can still be made to work. It just seems silly, from the technical side, to try this when the other paths are already in place and have every reason to work better. It's not silly from the marketing $ide, though...