So confused! best under $200 to play mkv/mp4 off of external usb-powered drive???

I've been searching for a media player under $200 to play my mkv and mp4 files off of my usb-powered seagate freeagent go 1tb external drive. But I'm so confused over all the options out there and not sure which ones can read and give enough power to a usb-powered drive. Any suggestions?

I have this drive for now as well as some usb flash drives for my media. Interested in playback mostly of mkv and mp4, but I also have some avi, divx, wmv, and mpg files too. 1080p playback and ability to pass thru dolby digital and dts are a must. Not interested in hooking up to a nas for now, although I may in the future if I become more tech savvy. I'm not interested in streaming netflix. I do like pandora though, but its not a dealbreaker to not have it. I have an av stand and I'd like a player that looks like an av component and could fit in the stand, so the boxee is out. The ability to download torrents directly through the player would be awesome but I'm realistic and know this may not be possible in my price range. Thanks.

I looked into the popcorn hour a-120 and it looks good. It's a smal enough size to fit in an av stand. I believe it outputs1080p as well. Are there any concerns about it? I was wondering if it could support playback from a usb-powered drive.

Thanks for all the advice. I've read nearly unanimous positive praise for the pch a-210 and I think I will go with that. It's perfect to fit into a tv stand or av component rack, it plays every file type, it plays 1080p files with support for lossless audio. The only thing it doesn't do is stream pandora, and while that would have been very nice it's not a deal breaker to not have it. I just wish there were more locations to buy it from - I would love to purchase it through amazon with prime shipping and no tax! But alas it will ship with a $20 shipping charge and won't ship until April 28 at the earliest direct from the manufacturer.