XBee Shield to make slow universal USB Extender

Is it possible to use an XBee shield to make extender for USB 1.1? It doesn't matter if it's only 100kbps like my existing CAT5. It could be between a PC and camera for example. I'd prefer if it was universal. I'd like to use it with existing software (on PC) and firmware (on camera), so it just needs to pass the data without wires. Let's assume timing is not as issue because I already tested it with a 300m CAT5 cable and my software. Is this feasible? I want to experiment with the XBee Shield, AND use it for this practical purpose. Is there a better solution? I hope not, because I want to purchase one for fun anyway! Thanks in advance for your help. My level of expertise is beginner for Arduino, but I have my MSEE so we can talk on that level if you prefer. Steve