The one you listed is v1 of that product. Last year's model if you will. Good product but with lots of little head scratchers though. Many threads on avs about it. Recertified models are going for $50.
The new model is $36 cheaper than your link and has more functionality. It's official name is the Western Digital WD TV Live Plus HD Media Player.
http://www.newegg.com/Product/Product.aspx?Item=N82E16822136593&cm_re=Western_Digital_WD_TV_HD-_-22-136-593-_-ProductHere are the supported formats on the stock firmware:
Media Formats:
- AVI (Xvid, AVC, MPEG1/2/4), MPG/MPEG, VOB, MKV (h.264, x.264, AVC, MPEG1/2/4, VC-1), TS/TP/M2T (MPEG1/2/4, AVC, VC-1) MP4/MOV (MPEG4, h.264), M2TS, WMV9
- JPEG, GIF, TIFF, BMP, PNG
- MP3, WAV/PCM/LPCM, WMA, AAC, FLAC, MKA, AIF/AIFF, OGG, Dolby Digital, DTS
Playlist – PLS, M3U, WPL
Subtitle – SRT, ASS, SSA, SUB, SMI
For $99 its a pretty damn good deal.