There was a deal posted before (http://www.hotukdeals.com/item/615351/iomega-home-media-1tb-nas-network-h) for 1TB driver £69.99.
But for £34.99 500GB is great value and the HDD can be replaced.
Simple to use: Three step set-up - simply plug into your router, power on, and install the software CD. Friendly web screens for easy management.
Sharing: Access files from any networked Windows PC or Apple computer for easy file sharing
High Performance: Gigabit Ethernet connectivity combined with a high performance processor
UPnP AV Media Server: Compatible with DLNA® certified media players, able to stream photos, audio content and videos to a variety of media devices like game consoles, audio bridges, DMAs (digital media adapters), picture frames and more
iTunes Server: Store your audio content in one central location and share it across your iTunes players
Network File Protocols Supported: CIFS/SMB (Microsoft), AFP (Apple), HTTP 1.1
Expandability: Add storage capacity by connecting external USB Hard Disk Drives. Supports FAT32 and NTFS formatted hard drives
Network Discovery: Automatic network discovery by Apple Bonjour and Microsoft Windows Rally devices
Print Server: Intelligent network print sharing capability for one USB printer directly attached to the Home Media drive