USB maximum cable length is 5m, though practically it depends on the driving hardware and the cable (you can get less, and indeed more!). Really though, if you're going to extend any cables then extend the RS232 one which is designed for that kind of distance.
All of that said, the £20 IP adapter looks like a top toy, you could control it remotely via python script, and cause all kind of trouble with that kind of thing

+1 on FTDI based adapters too.