I have one and I really like it!
It plays every file type Ive tried on it...avi, .iso, .mpeg, .mkv, .mp4 etc.
Its very small, can fit right in your pocket. But you have to pair it with an external HDD.
I have a WD 500gb Passport HDD. In my honest opinion, this drive is the best. Its usb powered so you don't need any extra cables to power it. I don't know if any other brand drives are usb powered? But the Passport is also small and pocket size.
Overall, its a great media streamer.
The only cons I have:
The user interface is extremely generic and not very well thought out. (But who cares right?)
The remote control that it comes with is like a "keychain" remote, I mean, its built for little kid hands. But that's fine with me because its mainly for my son, so even if he breaks it I won't care...I believe my Harmony One remote can control it as well.