Definitely. With regards to the Renderer part, folks from Microsoft were demonstrating this at the Windows 7 launch event last year, with a WD TV Live box. Have a look at this windows 7 demo using WDTV, at 29:15, it seems to be working perfectly fine for them:
http://www.microsoft.com/presspass/presskits/windows7/
So it is interesting to see how it worked during the Microsoft demo, but not any longer with the current firmware. Is WD monitoring this forum? Any reaction from them would be appreciated. 
