Can you view a shared iTunes 11 library from iTunes 7, or use iMac as an Airplay target? I picked up a beautiful old G3 Tangerine iMac.  Works (and looks!) great.

It has iTunes 7 installed on it.  I popped a music CD in it and it's a great little music player for my den -- sounds surprisingly good.

What I'd like to do now is one of two things:

1 - share my iTunes 11 library (from my MacBook) and play songs from the shared library on iTunes 7 on the G3 iMac

2 - or even better, use the G3 iMac as a sort of "Airplay" target, make song selections in iTunes 11 on my MacBook and have the music play on the G3 iMac

Any suggestions are helpful.
Install Airfoil Speakers on the G3.  They have a legacy version that runs on 10.4.

http://www.rogueamoeba.com/airfoil/speakers.php


  Run it on any Mac and it will immediately be able to receive audio.
  Airfoil Speakers for Mac receives audio from Airfoil for Mac and
  Airfoil for Windows, as well as iTunes, iOS devices, and other
  third-party software. See it in action.