Standalone setup based on vlc player (no more codec BS to worry about), works on Android & Windows plus loads more goodies. No point typing out what's on the video. Watch here:
http://community.mediabrowser.tv/permalinks/13138/introducing-media-browser-3
Live TV still lacking but this is something the devs want to include down the road. Core will be free but some plugins will cost, as per current mediabrowser 2 setup.
Looks like a decent alternative to XBMC and WMC (minus the live TV) anyway