Thanks for the informative response, Matt. Sorry about my lack of clarity. My content is all SD and HD rips (avi/mkv/mp4) and they are stored on my main rig (in another bedroom upstairs) and also on my HTPC (downstairs). Both computers are right next to my home's hardwiring (cat5e and coax), so I don't really have a preference as to which one I use. I wanted to avoid streaming because, at least using the ps3 and freeware ps3 media server software, I always get some lag, even with SD content. I do recognize that it is the simplest of options, however, and if I do decide to go with it, the WD unit sounds to be what I would need. Do you ever experience lag? My router is located downstairs so the wireless signal is not great upstairs. Lag is a huge concern of mine.
As for control, I don't need any control from the bedroom. I like to queue up a few episodes of whatever show I'm watching and put the tv on sleep - strange sleeping habit of mine. So not having control is no big deal (though ideally I would have control for those lazy sundays, but again, not a dealbreaker).
Oh, and one more thing, this is a 2007 LCD, so it doesn't have very many frills. Does something like the WD box come with some sort of HDMI dongle or something? My tv does not have wireless capability.
Thanks for the info!