"The processor in the WD TV Live/Live Plus is not powerful enough to make for a good web browsing experience."
True. We're getting into an area where the users want a fully-blown computer in their living rooms, instead of the small, inexpensive media streamer that WD make.
The OP's going to have to spend more than 95 bux. I wouldn't use a Mac Mini (more expensive than it's worth) but that's not a bad place to start researching. He can have a wireless keyboard, and Firefox, and VLC, and YouTube-in-HD, and Netflix-in-Canada, and all the other neat stuff he wants incorporated into the cute l'il WD Live. But the price tag starts at (minimally) $400.