The DIGITAL ENTERTAINER HD Streams movies, videos, music, Internet radio, and photos from your home PCs and storage devices to your HDTV or regular TV.  This device is getting great reviews all over the web. If your not an Apple fan boy this is the media extender you need.  It features easy set up using an on screen TV wizard. and automatically finds all the digital media files on your home network and organizes them into an easily accessible library, It also has USB 2.0 that can be used to hook up an external hard drive. Read More from Netgear  and Here This is the device you were waiting for !!

Its available in stores and online. Newegg has an extremely good price listed.

Supported Formats:are as follows

MP3 up to 320 Kbps or variable bit rate (VBR)
WMA8 and WMA9 files up to 192Kbps or variable bit rate(VBR)
WMV up to 1080p
Internet Radio (streaming MP3, WMA)
Video Formats: MPEG1, MPEG2, MPEG4, AVI, WMV, Xvid
Audio Formats: MP3, WAV, WMA, AAC, FLAC
Photo Formats: JPEG, BMP, PNG, TIFF
Playlist Formats: WPL, ASX, WAX, WVX, PLS, M3U, RMP
Wireless Standard     IEEE 802.11b/g

Ports     Input/Output:
HDMI for A/V output
RCA connector for composite video output
RCA connectors for component video output (High Definition support)
Digital Audio Output S/PDIF (coaxial/optical)
Stereo RCA audio ports
USB 2.0 Mass Storage interface
2x USB 2.0 port
Ethernet port
S-Video port