Sarah Tew/CNET

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, Vudu, Hulu Plus, and hundreds of other streaming-video and audio channels to any TV (including older, non-HD models).

The Roku HD is a nearly identical model with a slightly different remote that's available through different retailers than the LT; it costs $10 more.

If you can spend more, the $100 Roku 3 (new for 2013) offers a zippier processor, full 1080p video, and an Ethernet port. Furthermore, the Wi-Fi remote also includes a headphone jack, so you can stream without disturbing family members nearby -- great for kids' programming or late-night viewing sessions.

If your TV offers an MHL-compatible HDMI port, you can opt for the Roku Streaming Stick ($100), which shrinks the little box into a USB-style dongle.

Key compatible services: Netflix, Amazon Video On Demand, Hulu Plus, Vudu, PBS, Crackle, Mediafly, MLB.TV, NHL GameCenter, NBA Game Time, MLS MatchDay Live, UFC, Pandora, Mog, Rdio, TuneIn Radio, Spotify, Amazon Cloud Player, Flickr, Dish World, FoxNews.com, NBC News, Facebook photos, Flickr, plus hundreds of others. HBO Go, Epix, and Time Warner Cable are also available, but only for existing subscribers of those channels or services on compatible ISPs and cable providers. The Plex "channel" lets you stream video, audio, and photos from networked PCs and Macs. The "Play on Roku" feature lets you stream content from handheld devices as well. And Roku now offers a handy feature that allows you to search for content across multiple services. (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. Also, YouTube is a notable no-show on Roku, which could be a deal-breaker for some. If you've got a big DVD or Blu-ray collection, you may want to opt for a Blu-ray player instead (see below) -- though, for $50 to $100, the Roku would still be a great option for a second room.

Read the full review of the Roku LT

Read the full review of the Roku HD

Read the full review of the Roku 3

Read the full review of the Roku Streaming Stick

Apple TV: Best solution for Apple fans (and a great choice for everyone else)

Sarah Tew/CNET

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 by just tapping on the screen.

The latest (2012) version of the Apple TV adds support for 1080p video output and an updated home screen. More important, though, are a flurry of feature upgrades that have been rolled out over the past few months: the addition of several channels -- including Hulu Plus , Watch ESPN, HBO Go, and Sky News -- and the cool AirPlay screen mirroring feature. The latter feature allows 2011 and 2012 Macs running the new Mountain Lion OS to "mirror" what's on their computer screens to the TV via AirPlay -- and that includes free Flash video sites such as Comedy Central and Hulu.com.

As with Roku, those cooler services -- HBO Go and Watch ESPN -- require you to have an existing cable subscription in order to use them. (Notably, Sky News is 100 percent free, and offers a live stream -- although the news has a decidedly British slant, given its U.K. origins.)

Key compatible services: iTunes Video, AirPlay, Netflix, Hulu Plus, YouTube, Watch ESPN, Sky News, HBO Go, Vimeo, MLB.TV, NBA, NHL, WSJ Live, iTunes Match Music, Internet radio, many audio and video podcasts, Flickr, iCloud Photo Stream

Who shouldn't buy it? If you're not an Apple person -- no iPad, no iPhone, no iPod, no Mac -- you won't get as much value out of this device. And if you want services like Amazon Instant Video, 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

Sarah Tew/CNET

Yes, the PS4 is coming later this year -- so if you can wait for that, you probably should. But if you're looking for a do-it-all media box right now, the PlayStation 3 is still a good bet. In addition to functioning as a DVD/Blu-ray player and a kickass game console, the PS3 is also a formidable media streamer, with Netflix, Hulu Plus, Vudu, Amazon, YouTube, Crackle, 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 $270 (with game bundle), the PS3 is a great deal. 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, Crackle, YouTube, 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 2012 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. And existing Comcast and Fios subscribers can even configure the Xbox to work as a cable box, with a limited channel selection. (A Time Warner app is also coming later this year.) However, unlike the PS3, to get many of these services you also need to be an Xbox Live Gold subscriber ($35 to $60 per year). And the Xbox can play only standard DVDs, not Blu-ray movies.

Blu-ray player: Best solution for those who still want disc compatibility

Sarah Tew/CNET

Yes, streaming is the wave of the future. But there are plenty of folks with dozens -- or even hundreds -- of DVDs and Blu-ray discs they've invested in over the years. Thankfully, all modern Blu-ray players play those discs and offer streaming (at least for Netflix and Pandora, in most cases). Blu-ray players are becoming such commoditized devices that we haven't even reviewed any in 2013. However, if you opt for a model with built-in Wi-Fi (not just "Wi-Fi ready," which requires you to buy a dongle) and make sure it has a decent suite of apps, you'll get the best of both worlds -- discs and streaming -- with a single box. And unlike a PS3, a decent Blu-ray player can be had for $100 to $120.

Key compatible services: Varies by model, but Netflix and Pandora are usually the bare minimum. We'd recommend seeking out a model that also offers Amazon, Hulu Plus, YouTube, and Vudu, at the very least.

Who shouldn't buy it? If you don't care about discs -- or if you're already satisfied with disc playback on your DVD player or game console -- go with the aforementioned Roku or Apple TV.

Current Blu-ray players available for under $120

WD TV Play: Best solution for hard-core tech geeks

Sarah Tew/CNET

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 Play. Advanced users will appreciate that it was able to read just about every file type we threw at it, while newbies will enjoy its fairly slick interface for when you just want to kick back and watch something on Netflix, Hulu Plus, Vudu, or YouTube. It's also the only product on this list that can double as a viewer for Slingbox content (thanks to a recent firmware upgrade).

Key compatible services: Netflix, Hulu Plus, Vudu, YouTube, Vimeo, Pandora, CinemaNow, MLB.TV, Spotify, Flickr, Mediafly, Live 365, TuneIn Radio, Shoutcast, AOL TV, SlingPlayer, BILD TV (Germany only), Australian Broadcasting iview (Australia only)

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 Play

Worthwhile alternative: If you like the WD TV Live feature set and would also like a full terabyte of built-in storage (also streamable to other PCs, Macs, and WD TV boxes via DLNA), opt for the WD TV Live Hub . In addition to the roomy onboard storage (which can be supplemented by additional USB drives), the Live Hub offers a nearly identical feature set to its smaller brother, and adds compatibility with MPEG2 videos and DTS audio -- but it lacks Wi-Fi, unless you invest in an add-on dongle.

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.

Now playing: Watch this: Connect your laptop to your TV

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 forgo 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 $270 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"

Sarah Tew/CNET

Worthwhile alternatives: Don't want an outboard box, no matter how small? Try the 3M Streaming Projector, a $250 pico projector that includes the Roku Stick. Want a Smart TV without spending a bundle? The Vizio E320i-A0 is a 32-inch TV with built-in Wi-Fi, Netflix, Vudu, Amazon, YouTube, and more -- all for just $300.

Read the full review of the 3M Streaming Projector

Read the full review of the Vizio E320i-A0

* * *

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 July 11, 2013.