I am definitely satisfied for what it does.
920791
I actually had the first generation of WD TV, and getting this was actually leaps and bounds better than the original of course. My old one finally broke on me the previous week, which prompted me to get this. It plays everything I throw at it. I am very heavy into watching anime, and having the ability to watch an mkv with subtitles on a television was the deciding factor in why i purchased the first generation WD TV. As I type this, I am streaming a file from my computer to the tv that has the WD TV live plus connected. I am using a linksys N router with a linksys wireless adapter attached to me WD TV. From what I've been testing, it doesn't stutter, pause, or drop in quality. Keep in mind that I do attach my desktop computer via direct ethernet connection to my router so the experience may vary among other users with different routers and setups. One issue that the original WD TV had was handling a 1080p encode. So far I've tried 3 different 1080p encodes of a movie, animation, and tv show. All have worked flawlessly via usb and streaming.

I have tried some of the networks apps like youtube, netflix, and pandora. I preferably browse youtube through an actual computer, netflix I prefer on my xbox, and pandora is something I would rather listen to something more portable like my notebook computer. They are nice to have features though. I can't vouch for anything else as I don't use them.

Now for the negatives.
Subtitle support is neat, but many (not all) videos I have tried with subtitles (mkv softsubs) seeem to have them set sort of high. Not too high, but higher than what I am used to. Changing text size doesn't seem to resolve the height issue neither. If there was an option to set it slightly lower, then I would love to see it. I also have no options in changing the font nor having custom font sets.

Fast forwarding can be a pain at times. I wish there was an option to skip increments of time to speed up the process of going through a file that doesn't already have built in chapters. A psp has that function, and its a technologically inferior item in terms of video playback. I'm hoping a firmware update would remedy this. If I am completely blind and there really is this feature, let me know.

Menu navigation has improved since the first device, but I still don't like how sluggish the menu feels. Typing is still slow, but I did expect that. I've read in various places that I can attach a wireless keyboard. The unit itself tends to be quite hot when I shut it off and have it plugged in. This was the same with the first WD TV i had, and I do unplug my unit when I am done with it.

TL;DR: Plays what I want, makes it look/sound good enough. There is still room for improvement, but I am quite satisfied with my unit and will gladly purchase a more advanced unit in the future after this breaks. I had the first unit since i bought it in early 2009, and I am quite surprised it lasted that long with all it's flaws. Lets hope this unit brings out more updates and lasts a long time.

Note: as of this review, I am using official firmware 1.06.16 on the device.
1543086
I'm still getting used to the smallish form factor, but the more I use it I'm liking it just fine.
4009043
Yes I love it.  It does everything that I expect it to.
3826820
It is functioning as expected. I have found it really useful.
1706542
I am 100 percent satisfied, it sure does make life nice  ,,,,,,,,,,,
2192651
I give it five stars for what it does. It's small, and I knew that when I ordered it, so it's not the product's fault.
4747232
It works great and it's worth it for the price!
2735331
It works really well and it is easy to handle.
1169438
I have been using the device for the last three weeks and I am quite happy with its performance. I like it.
1931208
I like it and am enjoying it for the purpose I bought this for...  I'll be back for more, it works amazingly well!
4819012
It does what I need it to do. I'm very happy with it.
4284896
It does the thing it's supposed to do. It does it at fast speeds. I am happy about that.
1305058
Exceeds my expectations, I absolutely love it!
298091
It does exactly what it is supposed to do with no problems at all.
2184084
I am very pleased with it, I love it.
No problems with it so far.
3295294
Does what it is supposed to do efficiently and easy. I am very satisfied and happy with it.
326472
Definitely serves it's purpose for what its intended for