Which streaming media device is right for you?

Once a fringe activity for the geeky set, online video streaming is now officially mainstream, thanks in large part to the omnipresence of Netflix on nearly all Internet-connected entertainment devices. But with so many options now available, what's the best solution -- be it for Netflix, Hulu Plus, Vudu, Amazon, or any of the myriad other online video sources?

As with anything in real life, there isn't one simple, straightforward answer that works for everyone. But we've created a set of different recommendations that should work for nearly anybody, based upon your individual priorities.

The best news for anyone shopping in 2012? Prices for excellent media streaming devices now start at just $50, with plenty of other great options (including brand-new Blu-ray players) at less than $140.

Roku: Best solution for less than $60

Forget $100 -- $50 is the new entry-level price point for streaming video. The Roku LT is the only product at this price point, but it's an enthusiastic Editors' Choice. With built-in Wi-Fi and free control apps available on iOS and Android (and, if you're old-fashioned, a regular old remote), the Roku LT delivers Netflix, Amazon, Hulu Plus, and hundreds of other streaming video and audio channels to any TV (including older, non-HD models).

Key compatible services: Netflix, Amazon Video On Demand, Hulu Plus, Crackle, Mediafly, MLB.TV, NHL GameCenter, NBA Game Time, MLS MatchDay Live, UFC, Pandora, MOG, Rdio, TuneIn Radio, Flickr, Al Jazeera English, FoxNews.com, NBC News, Facebook photos, Flickr, plus hundreds of others. HBO Go and Epix are also available, but only for existing subscribers of those channels on compatible ISPs and cable providers. The new Plex "channel" now lets users stream video, audio, and photos from their networked PCs and Macs -- a long overdue addition to the Roku feature set. (Disclosure: CNET and some of its sister CBS-owned properties -- such as Chow and Showtime -- are also available on Roku.)

Who shouldn't buy it? The Roku is best for anyone who does not need iTunes compatibility. YouTube and Vudu are notable no-show apps on Roku. If you've got a big DVD or Blu-ray collection, you'll probably want to opt for a Blu-ray player instead (see below) -- though, for $50, the Roku would still be a great option for a second room.

Read the full review of the Roku LT

Worthwhile alternative: The Roku HD is nearly identical to the LT. It costs $10 more, but it tends to be in stock (online and in stores) more often than the Roku LT, which is often sold out.

Apple TV: Best solution for Apple fans

If you want the most diversity of content, the Roku box is the way to go. But if you're a die-hard Apple aficionado, Apple TV may be the better choice. It's the only box that's compatible with iTunes, iCloud, and AirPlay. The latter function allows you to stream audio (like Pandora and other Web- and app-based audio streams), photos, and even some video from your iPad, iPhone, or iPod Touch directly to your TV screen by just tapping on the screen. New for 2012, the current Apple TV adds support for 1080p video output (not as big a deal as you'd expect) and an updated home screen. But it's the little upgrades that are even more important: TV and most movie purchases on iTunes are now streamable on-demand. So if you've bought a boatload of movies over the years, they're now available at the touch of a button. We'd still like to see more "channels" available, but for $99, it's not a bad little box.

Key compatible services: iTunes, AirPlay, Netflix, YouTube, Vimeo, MLB.TV, NBA, NHL, Flickr, WSJ Live, Internet radio, many audio and video podcasts

Who shouldn't buy it? If you're not an Apple person -- no iPad, no iPhone, no iPod, no Mac -- you won't get much value out of this device. And if you want services like Hulu Plus, Amazon, HBO Go, you'll need to look elsewhere (namely, Roku).

Read the full review of the 2012 Apple TV

Worthwhile alternative: If you want more flexibility -- albeit with a far bigger budget -- you could always just attach a Mac Mini to your TV.

PS3: Best solution for gamers

Sony's ad campaign proudly touts that the PlayStation 3 "only does everything." For once, it's a case of truth in advertising. Everyone knows the PS3 is a great game console and a Blu-ray player. But -- thanks to an ongoing series of firmware updates -- it's now a formidable media streamer as well. The PS3 offers Netflix, Hulu Plus, Vudu, Amazon, NHL, MLB.TV, and NFL Sunday Ticket -- the same "every out of market football game" package that was previously available only to DirecTV customers. The PS3 is also able to stream music, video, and photos from networked PCs and attached USB drives. Sweetening the pot even more: at $249, the PS3 is cheaper now than it's ever been. Bottom line? The PS3 is far and away the most versatile box to have under your TV.

Key compatible services: Netflix, Vudu, Hulu Plus, Amazon, MLB.TV, NHL GameCenter, NFL Sunday Ticket, Sony Entertainment Network, DLNA (home media streaming); plays DVDs, Blu-rays, CDs, and USB-based media

Who shouldn't buy it? If you're not a gamer, the PS3 is somewhat less appealing. You'll also need to invest in a separate remote or remote adapter (if you don't want to use the PlayStation controller), since the PS3 lacks built-in compatibility with infrared remotes.

Read the full review of the Sony PlayStation 3

Worthwhile alternative: The Xbox 360 also does double duty for gaming and online entertainment, offering a recently expanded entertainment slate, including Netflix, Amazon, Vudu, Hulu Plus, YouTube, Crackle, and Last.fm. Xbox also offers ESPN3, HBO Go, and Epix -- but, as on all other compatible systems, only for existing subscribers of those channels on compatible ISPs and cable providers. However, unlike the PS3, to get many of these services you also need to be an Xbox Live Gold subscriber ($35-$60/year). And the Xbox can only play standard DVDs, not Blu-ray movies.

Panasonic DMP-BDT220: Best DVD/Blu-ray player under $140

We love the PS3, but we also realize that not everyone's a gamer -- and that the PS3's $249 price tag may be a budget buster for many. Thankfully, there are many Blu-ray players that offer access to several online streaming services (Netflix, Pandora, and YouTube being the most common), as well as the sort of disc playback you won't find on dedicated boxes like the Roku or Apple TV. For 2012, our top Blu-ray choice is the Panasonic DMP-BDT220, which can be had for under $140.

Key compatible services: Netflix, Amazon, Vudu, YouTube, Pandora; DLNA (home media streaming); plays DVDs, Blu-rays, CDs, USB- and SD-based media

Who shouldn't buy it? If you don't need compatibility with discs (DVDs, Blu-rays), or if you don't have the space for a disc player, opt for the Roku or Apple TV above.

Read the full review of the Panasonic DMP-BDT220

Worthwhile alternative: You can find alternatives to the Panasonic by checking out our list of best Blu-ray players list. Just be sure you get one with built-in Wi-Fi -- not a "Wi-Fi-ready" model that requires the purchase of an additional dongle.

WD TV Live Hub: Best solution for hard-core tech geeks

As we've shown, all of the products listed above are excellent choices, each with its own strengths. Many of them are also good for streaming audio and video files from networked PCs. But what about the "hard-core" tech enthusiast -- the one whose NAS drive is full of MKV, ISO, and VOB files? (If you don't know what any of that means, don't worry -- it just means you're normal.)

For that consumer, the best choice we've seen to date is the WD TV Live Hub. It's $200, but that price includes a built-in 1TB hard drive, ready and waiting for a treasure trove of digital goodies to be copied onto it. It can also act as a server -- and read from network servers -- as well as attached USB drives. It was able to read just about every file type we threw at it, and it also has a fairly slick interface for when you just want to kick back and watch something on Netflix, Hulu Plus, Vudu, or YouTube. We only wish it had built-in Wi-Fi (though you can add your own dongle.)

Key compatible services: Netflix, Hulu Plus, Vudu, YouTube, Vimeo, Pandora, CinemaNow, MLB.TV, Spotify, Flickr, Mediafly, Live 365, TuneIn Radio, Shoutcast

Who shouldn't buy it? If you don't have a hard drive full of your own (non-iTunes) movie and music files, opt instead for the Roku or Apple TV above.

Read the full review of the WD TV Live Hub

Worthwhile alternative: If you like the WD TV Live Hub feature set but don't need the built-in hard drive, opt for the WD TV Live, a smaller version of the same product that ditches the built-in storage but offers built-in Wi-Fi.

A cheap HDMI cable: Best DIY wired PC-to-TV solution

Want a "quick and dirty" solution for streaming video on your TV? If you've got an HDTV, and your laptop has an HDMI output, just get a long cable and call it a day. (This will also work with most DVI and DisplayPort/Thunderbolt outputs, if you have the correct adapters or cables.) And remember: a cheap HDMI cable will work fine -- no reason to pay for so-called "premium" cables. While the gadgets above will cost you $50 minimum, this solution can cost you as little as $6 -- assuming, of course, that you already have the laptop and the HDTV.

What about just buying a Smart TV?

If you're in the market for a new TV, you might think, "These new 'Smart TVs' already have these streaming features built-in. Why don't I just get one of them and forego the boxes mentioned above? It's no fuss, no muss, and no wires."

Well, sure, you could do that. But you're probably going to end up overpaying for the streaming features, and actually losing flexibility in the long run. We prefer to buy a TV strictly on picture quality, and then spend an extra $50 to $250 on getting any one of the devices above, depending upon your needs (PS3 for gaming; a Blu-ray player if you still want to play your old DVD collection; a Roku if you want maximum value and affordability; Apple TV if you already have a lot of iTunes content). That way, you can always mix and match boxes in the months and years ahead, and still have your TV purchased on maximizing picture quality.

Read I want my dumb TV

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Got a favorite from the list above? Anything we missed? Share your comments below.

Editors' note: This story was originally published on December 15, 2010. It has been updated several times, most recently on May 17, 2012.