This firmware version is performing much, much better than 1.06.34, but I haven’t noticed it performing much differently than version 1.06.16.
I have some .mkv files on my network share that I can play on other networked devices (laptop, PC, phone) but which don’t play on the Live Plus with the new firmware, although they didn’t play under 1.06.16 or 1.06.34, either.
My network share would show up fine under 1.06.16, but almost never shows up with 1.06.38, same as I’d experienced with 1.06.34.
The one thing from 1.06.34 I’d really hoped would carry over into 1.06.38 was support for the WD Live app on Android, but if it’s supported, I can’t find any way to pair up or otherwise get it to work.
My favorite thing about the newer versions is not having a “Are you sure you want to exit Netflix?” message pop up whenever I’m in Netflix and want to power down or return home.
All in all, the WD TV Live Plus is still my preferred networked media streaming device, and hopefully newer firmware versions will continue to make it even better.
Edited 11/21/12 1:00pm to add: YouTube Leanback is cut off a little on the right and left sides of the TV, so sometimes text isn’t completely visible.