It is hard to spot the functional difference between the KWorld M210 Network Media Player and a full on HTPC.  It sports a removable hard drive, handles YouTube, Picasa and BitTorrent downloads and can play back just about any media file.  High def is available on HDMI, component and composite outputs, USB ports and eSATA ensure removeable media is covered.  It is, as the name implies, able to connect to a network with wires and with a WiFi dongle you can have wireless as well.  The remote control will let you control the various menus, so the only real difference is that you cannot record TV.  Hardware Bistro found it almost perfect; they would have preferred built in WiFi but found no other faults.

"If home theatre system is over budget then you may consider a media player which allows users to run certain of multimedia applications on a TV; this is even better if it is a network media player. KWorld M210 Network Media player is a newly launched network media player which costs less than 100USD with features of full 1080p HD movies, internal storage, Internet streaming programs, support multiple of video codecs & formats and so on."

Here are some more Systems articles from around the web:

HTPC