I purchased the SMP-N200 from the Sony website and have been experimenting with local network playback, using a Synology 710+ NAS. I was pleasantly surprised to find that the SMP-N200 will play H264 encoded MKV files on the NAS drive with NO on-the-fly re-muxing/transcoding. Playback is smooth and pause/skip functions work well, as expected. The GUI display is quick and easy to read. For those wanted more info on how I determined that my Synology NAS was not re-muxing/transcoding, here you go. On the Synology box, it gives you the capability to select different DLNA profiles for each device. For the SMP-N200, I tried both the default profile and some various sony profiles (bravia, blu-ray, etc). With the default profile, the files are displayed as "MKV" on the SMP-N200 GUI. While streaming, CPU usage is very low (<= 1%) and ffmepg is not running. With the sony specific profiles, the files are displayed as "MPEG" on the SMP-N200 GUI. While streaming, CPU usage is higher (<= 5%) and ffmpeg is running. Thus, my conclusion is that, when using the default DLNA profile, the Synology is NOT re-muxing/transcoding and I am able to play H264 encoded MKV files over the network, despite what it says in the SMP-N200 manual. Maybe I'm missing something and the Synology box is doing some magic behind the scenes, but I don't think so. So, in conclusion, I'm happy with the SMP-N200 so far.