If you're looking for a Media Center Extender that can do a smidgen more than your average 360, HP just announced a brand new option for you. The MediaSmart Receiver does the usual MCE business (actually, it's an Extender for Windows Media Center, meaning it can do DivX and XviD), in addition to playing H.264, MPEG-2, AAC, having built-in 802.11a/b/g/n, a Pocket Media Drive bay, and all the outputs you'll need to get the thing up and running (component, HDMI with HDCP). And, of course, it'll stream you media via DLNA / UPnP servers, play it off the drive or USB ports, as well as switching modes o HP's own media interface, just in case you're not into the Extender experience (or don't rely on an XP or Vista box to deal with your media). No pricing intel just yet, but expect a spring release.

Local media playback is also available via plug-in USB drives or HP's own proprietary Pocket Media Drive (also found on many of the company's desktop PCs). The box boasts HDMI and component video output at HD resolutions up to 720p and 1080i. The MediaSmart Receiver x280N will connect easily to PCs running most flavors of Windows Vista.

Source