Difference is Bluetooth Smart and Bluetooth audio
Bluetooth Low Energy does not stream data like classic Bluetooth.

BLE works by setting up short-lived connections to transmit a small amount of data quickly.  You can, conceivably, construct a system where you do this fast enough that you can push enough data through the link to stream audio at some level of quality, but it's not designed for that.

BLE has huge advantages in allowing long battery life and allowing a large number of sensors to use the same central device.  So if you don't require either of those advantages, and you need to stream data, then I would recommend you use classic Bluetooth.

You mentioned the "smart ready" chips in your post - those can do both BLE and classic Bluetooth.  I don't know if they can do them at the same time.