A happy WDTV v1 owner.
Bought one when it first came out. Immediately jumped on the AVS Forum sub-group dedicated to modding it (it runs Linux) and soon had an Ethernet USB adapter plugged in running off a 7-port USB hub, along with 4x1Tb external HDDs. And if you're *really* that interested you can also add an external DVD player to the mix. (and wifi, and streaming, and web-page controls, and...etc)
Most of my media resides on the HDDs, and the Ethernet connection is for updating the contents (not stream) and I am a happy munchkin with my box. The DTS might be nice (although I believe there is missing hardware in the WDTV v1, so a firmware update might not be enough) and if I had a complaint it would be that the subtitling system it uses is rather primitive in its capabilities compared to (say) FFMPEG and its derivative packages.
Still, I use the box almost daily, am currently ripping my DVD/CD collection to it (hanece the large number of HDDs), and now that I have upgraded the signal path to HDMI, the picture looks great.
very, VERY happy. (damn, I sound like a marketroid)
So v2 will need to bring more to the table than an integrated ethernet port and possible DTS to make me upgrade.