I'm confused. Why is there gnuradio on the screen? The RPI seems to have power (micro usb), TX (two wires to the ethernet port on the laptop), and ... what is the third thing?
I think it's the signal they're "converting" to ethernet. That'd be the "digitizing some WBFM IF signal with the internal ADC" part. What I don't know is what's in the signal :P