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I use my Xbox 360. Access to netflix, I can stream other video from my computer (hulu, youtube, amazon unbox, itunes music, pictures, etc). More expensive, clearly, but also has a lot more access and other abilities - like video games (which, admitted, I don't play a lot of but still...)
In my bedroom I actually use a MacMini that is used only as a media machine - it streams to the xbox, and I have a monitor hooked up onto it and just use it as my TV in here (when I move I'm going to plug cable into it, could do it now but its not worth the effort.)
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