Audio Systems: SPDIF / Toslink, htib, channel signal

Question
QUESTION: Hi Wayne,
I came across a USB device that acts as an external sound card and outputs SPDIF.  I was wondering if SPDIF is equivalent to TOSLink?  Because my optical cable is TOSLink and my Panasonic SC-PT760 HTIB accepts Optical.  I was trying to connect my laptop to the HTIB using USB to get 5.1.  The following is a link to the device.  Hope it works.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MEWAX:IT&item=1602

ANSWER: First of all, SPDIF is a signal type, and toslink is a another word for optical cable. In other words, SPDIF can be sent via toslink. The two things are completely different from eaach other.

Also, SPDIF is a two-channel signal only. This device only sends a digital stereo signal via toslink, not surround.

From the looks of what gear you have, this still not get you from your laptop to your 5.1 system. Sorry...

---------- FOLLOW-UP ----------

QUESTION: Hi Wayne,
Thanks for your reply.  You truly are an expert and I'm glad I can ask you these questions as I have no one to go to and you can probably tell I'm not even close to knowing any of these.  Thanks a lot once again and sorry to bother you.  
Perhaps I should ask for your recommendation instead of hunting for possibilities.  
My laptop has USB, HDMI, Stereo (Front/Rear instead of Left/Right), and S-Video as possible outputs.  Is there any way I can obtain 5.1 given that my HTIB takes AUX (Left/Right) and Optical as input?  Passing it through the TV using HDMI is already out of the question, since if you remember last time you helped me identify that the TV is not a passthrough if used through HDMI.
Thank you so much and terribly sorry to have bothered you.
Emil

Answer
I'll do a little research and see what I can find. Shoot me a followup to this, and I should have some info tonight.

Wayne

***********************FOLLOW UP:*************************

I found this device - http://www.hdtvsupply.com/pc-toslink-adapter-converter.html

Their terminology is a bit muddled (calling a toslink a SPDIF cable isn't really true), but it seems that you'll be able to use the USB port and output via toslink into your system a 5.1 surround bit stream.