Things are moving along nicely. Control via both the XBMC remote app from the Android store and my own GUI designed with irule work very well. The unit seems to play nicely with my 4x4 matrix which was a concern. I haven't done a really thorough test with the matrix (2 TVs watching at the same time, switching one to something else and then back for example) but it does display video and play sound from all 4 connected TVs.
As an FYI the aaawave.com price went up $10 but it seems Amazon still has this for $99.
The unit barely breaks a sweat with a couple of compressed .MKV files I have and after 30 minutes of a full lossless 1080P blu-ray MKV it was warm but no super hot and the CPU usage for both cores was around 20%.
I'm very happy. It also seems like openELEC 3.0 was released yesterday. I'm running release candidate 2.99.5 right now.