I just bit it and bought one for a "family" present after Christmas since we all use it anyhow. Loved my old third gen WD TV Live Plus, but with all newer stuff being x264 and MP4 along with mkv containers,a lot of it wasn't playing anymore without a fight. Eventually they will be useless as the chipsets in them can't do what is needed for the newest formats(what made me eat it when i found this deal) The converters were hit and miss and so damn time consuming I said the hell with it. Also got a 2TB WD Elements external drive to use with it as well. Had a $40 gift card from a price reduction(went $40 cheaper day after i bought it lol) from a Christmas purchase, so that along with a $20 rebate makes my out of pocket for both only $139.98. Pulled the trigger since I don't think I could ever get it all this cheap again. Loved my old WD TV Live Plus, so I'm hoping to hear there are folks here using the new ones successfully as well. I know there are other options out there, but for watching downloaded content on a real tv, wd is hard to beat in my opinion
Update: This thing kicks ass bar none. Just don't update to newest version of software, I'm still using what came with mine and won't upgrade until a new proven patch is out. Anyhow, this damn thing plays anything I can throw at it thus far, no converting bullshit or stutter, move the file to the 2TB drive for local or straight off the laptop thru share it goes right along and plays. Easy as pie to connect the hard drive as well(WD Elements), although I did have to manually edit and assign it. Other than that 1-2-3 go on everything. Works as a streaming/wireless device for hard drives attached to the WDTV box as well. So doing massive dumps of downloaded stuff on the laptop to the new drive, while I won't call the time fast I will call it decently quick transfer wise. So if u need something to stream for your laptop or watch downloaded media without jacking with converters this thing has my vote. It is everything the original one was, but even better.