Let the hive mind of Engadget get that for you.
"I need help! I want a small pocket camcorder but I'm not sure which one to get. I don't want to fall into the hype of the Flip because I worry two hours won't be enough. What should I be looking for when considering a small camcorder and where can I get a good quality one with expandable memory? Thanks!"
The unit cannot "actually take the place of a dedicated HTPC", since it does not support mkv container.
Why wouldn't they support mkv? That's the most important feature for a HD media player, since that's the best and most versatile format. How very disappointing.
On that point alone, this unit cannot stack up to the far cheaper Popcorn Hour. That unit plays every possible format.