Scott Rader has tweeted about a new WD TV firmware update coming soon.  This would be the first release in months from WD on their first media player.  There is no indication as to what will be on this new firmware release.  Here is the quote:
#WDTV we are working on the WD TV HD Media [...]

From some reliable sources, WDTVC.com has got some new information on the successor of the popular WD TV-media player. It will have a retail price of 149 Euro in Europe. The official name of the device will be WD Live TV Media Player.
Detailed specifications and some photos of the new Western Digital media [...]

Sorry, we’re a little late on this post.  WD has released 1.02.10 Beta to the public with a few bug fixes.  Here is a quick rundown:
“What’s New?
Prerelease 1.02.10 (includes all previously released updates)
* Greek subtitles render slowly in Greek character encoding mode; subs render properly now * Korean subtitles disappear during the video [...]

After about a month off, WD has finally released a new beta firmware today.  It hasn’t been officially added to their prerelease site(as of the time of typing this) but it is available on their server.  From the readme:
Bugs fixed in 1.02.08:
-Some characters still missing from Greek font
-VC-1 MKVs playback poorly
-Audio out of sync during [...]

We have opened a new section on the website dedicated to teaching WD TV users how to perform common tasks with their media player. It will contain tutorials on how to install and configure firmware, applications and hacks.
There are 6 tutorials for now: “Wifi USB adapater installation”, “NFS sharing on Windows XP” and “Torrent application [...]

If you head over to the WD TV website, you will see that 1.02.07 has been brought out of beta, sorta.  This version appears to be the same as the beta release with no new fixes, but that hasn’t been completely confirmed yet.  The release notes also are the same as when it was in [...]

Western Digital’s latest beta has arrived, only a few days after the last beta, with a few minor fixes.  Fixed items and additions:

Added option to toggle subtitle default to ‘On’ or ‘Off’
Added subtitle outline thickness selection
Added hard drive spindown on WDTV power off

Download here
Discuss this topic in our forum
This is a prerelease version of the [...]

Okay it’s been a while since the last front page article was published but we’ve been working on the background to add website functionality and creating a solid base for this community. As you might have seen on the forums or downloads page WD hasn’t been sitting still either. Beta firmware version 1.02.07 is hot [...]

Western Digital has released a new pre-release beta firmware version. No official release notes to be found yet but these are some quick notes:

Windows-1250 Central European encoding added
Subtitle rendering quality improved
AVI loading time improved
Fixed an issue where thumbnails weren’t loading sometimes
Thumbnail loading times improved

Download here

This is a prerelease version of the firmware. Feel free [...]

The WD TVC.com movie thumbnail generator is updated. In the old version some movies were unable to find. From now on you have some options to choose from so you will find your movie poster 99% of the times. Try searching imdb ID or movie title first, if that doesn’t give any results try enabling [...]