I did some google searching and it looks like "iPod Out" just refers to having the iPod interface show up on the screen with album art. Things like the BMW Y-cable with basic control and analog audio out from the iPod/iPhone should still work with the Lightning to 30 pin adapter. I assume the adapter has some DAC in it, that is why it costs so much.
Watch the Apple presentation. http://www.apple.com/apple-events/september-2012/
At time 38:26 (and in particular 38:48) it clearly states that charging AND audio will be provided...and the example given is for cars and your other older audio docking devices (when used with the $29 30 pin adapter).