It’s an HD network multimedia play that is also a PVR and HDTV Tuner. It can playback HD (and I assume SD is no problem either) content from its hard drive, USB ports, or from any computer connected to it via the local area network.
You can also record HDTV from OTA sources with this thing. Also, the advanced DVD play back allows you to rip the DVDs into .ISO or .IFO disc images and play them back just like the original DVD with menus and everything.
It has 3xUSB, HDMI, Optical, S-Video, 2xCoax, Ethernet, Component, Stereo RCA, Multi I/O, and AC in ports, some of those are outputs though. Sadly the HDTV tuner is a separate attachment, but it just clips onto the bottom maintaining the trash can form factor if you buy one. Its available now on Amazon for $520.