Does anyone observed the same issue with very long HDD detection? After power on my USB LED on my WDTV Live is blinking and my WD Passport 500GB HDD is accessible only after at least 2 minutes. I think the problem appeared starting from the one of last FW releases. CHKDSK doesn’t detect any issues on my HDD.
I think that you are lucky. My WDTV Live with this firmware recognize both hard disks in no less than 15 minutes.
I shall wait a few time, but a no official firmware is in my line of sight: it’s impossible that the alternative could give more problems like the actual release.