Actually, scratch that. Although the WD Play does handle FF/REW much better than the WD Live SMP, I've discovered a couple more problems that will ultimately result in its return to the store:

1) It doesn't play files encoded at H.264 Profile High@L5.1. Unfortunately many video files "out there" have been encoded at this very high level, even though it's absolute overkill.

2) For certain 4:3 (SD) material, the video is displayed stretched at 16:9. This seems to only occur with material encoded at 60i (i.e. using MBAFF or Yadif), however not all 60i material demonstrates this problem.

So I guess it was a nice try, but I'll most likely stick with my WD TV Live SMP. The other alternatives out there would be the Roku line (which doesn't support DLNA, which means they don't support Mezzmo) or I could hunt down an older WD TV Live / Live Plus on eBay along with a compatible wireless USB adapter.

Cheers,
Visor