* Turn your USB drive into an HD media player - Play content from most popular USB drives and devices.
* Play videos, music, and photos from the Internet - Connect to Internet sites like YouTube, Flickr, Live365, and Pandora. (Availability varies by country).
* Full-HD 1080p video playback - Experience spectacular Full-HD video picture quality and crystal-clear digital audio.
* Collect without limits - There’s no limit to the size of your media collection; just add more USB drives for more space.
* Access files anywhere on your home network - The Ethernet port lets you connect this player to your home network.
This little box is up there with one of my best electronic buys ever. Hook it up to a HDD or your PC and watch all your content on your main TV.
It plays pretty much every media filetype (not realvideo) with no problems and has recently been updated to play ISO (DVD Images)
It connects to YouTube also and there has been an official firmware update launched yesterday which also lets you use Facebook/Deezer/Flingo/Accuweather.
There is also a strong community of modifiers and an awesome unofficial firmware you can put on it called WDLXTV live. This lets you use the box to connect to Apple Trailers, Shoutcast radio, BBC pocasts and get YouTube in HD.
You can also customise the look and feel easily to have 'moviesheets' that make the whole experience much sexier.
At under £80, this is a steal.
There is a WDTV Live Plus, currently the only significant advantage is Netflix, and a WDTV Live Hub which has a built in 1TB HDD but currently is little hope of advanced customisation.