I set mine up a little while ago. It updated quickly. Within 3 minutes or so it had downloaded and installed the update. I'm on version 188.8.131.5225 and it says there are no updates available.
I have not been able to play any BD ISOs. It always says "Playback Error...The media source or file is not accessible"
I know the files are fine since my C200 and PopBoxes have zero issues with them. This is from a network share, I have not tried it with a local drive yet.
I did try the DTS-MA MKV of Avatar I made and the Boxee Box had no problems playing it over my network. It played it flawlessly.
I also tried the Bird Bitrate test files over my network and it had no problems until the 70Mb/s bitrate files which is great since no BD can even be close to that bitrate.
I tried a couple of DVD ISOs and it played those fine but with a couple of quirks in the menus.
It did a supeb job with HDTV recorded MPEG2 content. I don't think I've ever had a device that could scan and play over the network so quickly for that content.
As far as the Fan, I can easily hear it, but in my main viewing area that is not an issue. I might have a problem if it were in my bedroom, but I am also more sensitive to fan noise than most people. In a quiet room I could easily hear the fan from twelve feet away, but I doubt your average person would be able to hear it at that distance.
Also I tried to use the VUDU application but it said that it was coming soon. I was hoping to watch a VUDU HDX movie today with it.
I also tried some audio test files, and like other people, the Dolby True HD files came out as PCM. 7.1 DTS-HD MA was fine. And I need to find my DD+ and DTS-HD test files to check.