It is capable of doing 1080p decoding. I no longer need a Blu-ray player, Boxee box, Roku box, anything. I have an HDTV, I plug this into it with XBMC installed. Boom. I can stream anything from anywhere. It's also AirPlay enabled. Any TV just became a very smart TV for $35.

If you're not familiar with XBMC, prepare to have your mind blown.