This is a new product (early Sept 2012), and there isn't a lot of info on it yet, so I wanted to add my experiences as an early adopter. I think it does what the write-up says it will - connects to my wireless home network easily without dropping connections, launches web pages, youtube and downloads/installs apps from Google just fine, and can play media on network connected devices (network shared folders worked after browsing for them, DLNA servers show up, but only easy to use after installing the free MediaHouse app). Some people don't like the remote, but I think it is pretty good - wireless RF (not IR), so you don't have to aim it at the box. Works a lot like a Wii game remote, where accelerometers measure the angle and motion. If you're technically inclined, this device is shipped with root access, so you can pretty much install or modify anything you want, but it is the older 2.3.4 version of Android. HOWEVER the latest update to Ice Cream Sandwich 4.0.3 is ready to download (as of 2012-09-07) from the Diamond website. I unzipped it to an SD card, but am waiting to upgrade because I want to know if it will still be rooted after the upgrade. The original Android image is not available for a downgrade, and the device works pretty well even if it is only the Gingerbread version. Nearest brand-name competitor is the Vizio Co-Star; it follows the GoogleTV standard, which adds features but removes some flexibility in usage. Been out of stock, but just started shipping again. I think I prefer the Diamond in comparing their specs.
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