FM modulators are garbage for sound quality.
I wouldn't expect stellar sound quality from that USB sound device, but it could surprise you.
For powering everything, I suggest reading some FAQs on the topic:
http://www.mp3car.com/vbulletin/advfaq.php
There are quite a few about powering a computer in the vehicle.
As a general rule, inverters suck. Your OEM unit that's integrated in teh vehicle may be better than most, however. I'd still recommend going with a DC-DC PSU, though and save the inverter for when you need to plug in a blender or something.