The only “difference” between the 2 … is the newer model is missing Netflix
The 2 devices are identical hardware
from the wdtv wiki …
"WD TV Media Player (WD TV 2nd Gen) Released in July 2014
(NTSC model number WDBYMN0000NBK, PAL model number WDBPUF0000NBK).
Identical hardware to the WDTV Live Streaming but missing Netflix"
this “newer and faster firmware” sounds like a marketing spiel … sure, the newer model is running newer firmware … but
i own the 2014 WDTV and a friend has an SMP … comparing the two (on latest firmwares), i can’t see any speed difference
Personally, i’m not having problems with my wdtv … but other people are (so it’s the luck of the draw)