question about wireless sound transceiver

hi i want to design a circuit that performs as follows: a microphone gets the analog signal and then the signal is amplified using lm386 and then the analog signal is converted to digital with an arm microcontroller using A2D and then the signal is sent using a Bluetooth module and it should be received using a Bluetooth headset or a mobile phone. now my question is that can this be done with high quality using arm? 

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