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ADAU1462/66 S/PDIF RCA Input

Product Number: ADAU1462


For a digital amplifier design I need a RCA S/PDIF input and output on a ADAU1462 (192kHz max). I want a transformer on the input and was thinking of some design similar to this (maybe with a SN65LVDM176 instead of the MAX3280):


Can someone confirm that this would work? Or is there a simpler/better/cheaper solution? How about the grounding of the RCA shield, should this be PE or could it be floating ? I am a bit concerned about ground loops.
Also what kind of circuit would I need on the TX output of the ADAU for the S/PDIF thru ? It seems like the output signal is 3V3 p-p, so i assume I need a level conversion back to the 0.5V p-p to comply with the level standard for S/PDIF.

Thanks in advance,