Indeed, this I know... they are indeed a nightmare.
SPDIF via coax is a digital signal, and thus is not affected by noise or ground loop hums. (I'm like, 99% sure) I have already extensively tested this by running a ridiculously long cable throughout the the entire house. The result was a crisp, clean, unaffected sound.
When I wired the house I ran 2 and sometimes 4 coaxial cables to each room, so I have an abundance of these laying around begging to be used. I'm sorry that I forgot to specify the source. The source(s) is/are computer(s) equipped with SPDIF. (Which, in addition to, have the standard 3.5mm jack output.) So rather than using the 3.5mm jack and connecting that to the main source input at the location of the computer, then running that though the cat5e with ground loop fault up to the home-run base, I wanted to send a SPDIF signal though the coax cable up to the attic, then have some type of receiver take that signal and make it useable by my house's sound system. (Standard RCA jacks) and have the main source input located directly in the home-run base, completely isolating it from the cat5e with the ground loop fault.
Wow, that is a nice (and expensive

) receiver. I need something just about like that... minus all the extras. heh
Sorry for not making my current system more clear. If needed be, I can create a schematic with MS paint. It might not be the prettiest thing, but a picture is worth a thousand words, as they say.
Worst case senerio, I can live with something
the opposite of this: buy[dot]com/prod/startech-audio-converter-2-x-rca-female-to-toslink-rca-female/q/loc/111/211020272.html
I just can't seem to find anything that will go the other way.
(No need for experts. :/ I can do anything he could do, and I could even pay myself the same! Actually, that sounds pretty good.

)