Questions about network sharing

I’m considering buying a WD TV Live, and have a few questions for planning my network setup.

Is it possible to share external usb drives connected to the WD Live on the network with full writing access? And can you set a user/password on the share?

I’m considering two setups now:

1: WD Live with usb drives connected through wireless networking. This however would require the ability to have password proteced shares with writing access.

2: WD Live connected to a computer through a switch/router.