Well, the grass is always greener on the other side of the fence.
While holding no torch for WD ( I have placed my issues with them as the first comment in the blog post presenting this firmware -- on wdtvlive.com ), I have to say that Realtek based players are not without their share of faults. For example, 16-reframe H264 files don't playback properly on the Realtek based players. Lot of artifacting / blocking etc. The only way to play them is to re-encode.
On the other hand, I also have some MP4s having the audio sync issue, but just a plain remux into MKV was able to resolve the issue.
Obviously, remux takes much lesser than re-encode, and I have lots of 16-reframe MKVs, as well as audio off sync MP4s. In this case, the WDTV Live is obviously better!