Chief- Tell me more about this WD TV Live. And you're right, the Pioneer is a superb upconverter, plus it plays more audio files. I bought it after my multiplayer crashed. The DVD/VCR recorder was next, since I had tons of tapes of Shawn I wanted to put on DVD for me and my ex. Last was the BluRay. I'd really love a media server but they're a tad too pricey for an unsalaried nurse.
It's a small box that can play most video audio and picture formats, has composite, component, and hdmi output with upconversion, and can play anything connected via usb or network shares, including wireless (though approved adapters for that are sold separately). It comes with a tiny remote and a decent interface. I'm not sure I'd recommend it for totally non-computer people but if you have an okay amount of technical savvy or know someone who does, it's a great way to play back media. The only downside is that it does NOT play discs in any way shape or form.
Since I make digital backup copies of all my movies and store the originals, this isn't an issue for me, but I can see where that might be a turnoff for more mainstream users. Then again the thing is so small that you could easily add it to whatever existing equipment you have without using much space. It's also compatible with universal remotes if that's your thing.
Attached a pic of the device and connected 2.5" external hard drive sitting next to my cable box. It's a 160GB drive holding about 50 movies with room for maybe 10 more. Granted most of those have been re-encoded to take up less space. Perfect DVD rips take about 7-8 gigs apiece, whereas perfect bluray rips are usually about 45.