The MediaGate MG-M²TV should be a pretty versatile media player. The little box packs quite a punch and is compatible with a whole bunch of video formats including AVI, WMV9, MKV, Xvid, H.264 and RealVideo.

The MediaGate MG-M²TV will also playback your music and image file fomats easily and even offers subtitle support for watching a foreign movie. If you want to use your HDTV to it’s full potential, you can output video and audio to your HDTV at 1080p resolution via HDMI or component.

Word on the street is that MediaGate is planning to roll out a Wi-Fi module soon too. It will cost you $119.

[Ubergizmo]