If you want a video file played on your TV, the PicoHD5.1 can do it.
Devices like Roku and WD players, Google TV and the Boxee Box are great when it comes to doing a little bit of everything, but if you don't need access to streaming services and other online content they can be too much.
The PicoHD5.1 goes the other direction. It takes a minimalistic approach to getting content from your computer to your TV. It can handle a good range of video files, three different subtitle types and the range of popular audio files.
The device itself looks like a memory card reader and can handle SD cards, USB storage devices and more. It's not available in the US currently, but European customers can pick it up for around $80.