It really depends on the media files you want to play. If they're from not-so-legal sources these Media Center Extenders might not work.
Using a modified XBOX with XBMC would be the best bet for standard-def content and you can probably find a XBOX for cheap. Though HD content is a no-go.
Best way, IMO, is to get a PC for the TV and make a semi-HTPC. Then you know you can play everything without difficulties.
And wireless might not be the best idea especially if its just plain 54Mbps G.
|