If I understood your problem correctly you want direct access to your PC via Wired Ethernet interface correct?
If that is true, here are the steps
Connect a cross-over cable to your PC’s NIC card (If your PC’s NIC is not Gigabit) if it is Gigabit, you can use regular cable
Configure a STATIC IP address to your PC’s NIC card say 192.168.1.100 / 255.255.255.0
Manually configure your WDTV LIVE SMP’s NIC interface to say 192.168.1.101 / 255.255.255.0
Configure your PC’s Networking and sharing of media files if you want
You should be able to access the media files that are on your PC from WDTV Live SMP
Please note: In this fashion, you will be able to access the PC’s shared media files thru’ windows filesharing, but you will not be able to access Internet via this connection as this will be a private network.
If you want to take a step further, you will need to enable ICS (Internet Connection Sharing) on your Windows PC and make the NIC card part of the ICS solution, then you will be able to use Online Services from your WDTV Live SMP as well as access the local PC’s media files via windows sharing.
Setting up ICS is quite a challenging feat, but you can always get help from Microsoft :smiley:
Best of luck!