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Works as described. A good value and a useful tool.
I purchased this to have safe backups of all of my photos and music. Having lost a hard drive (not backed up) last year and my external drive being at capacity, and a bit finicky lately I was concerned about the safety of my data. I purchased this as an insurance policy against losing the treasured images of my family, friends and travel I have accumulated over the years.

I researched options and found this unit to be the best value to meet my needs. My needs (and wants) included:

Double back up of data (RAID)
Enough space to back up current drives (600GB)
Network-able so I can share to laptop

Out of the box this feels like a quality piece. At about 6 pounds it feels solid in your hands. Case is simple and attractive but would have preferred a black case over white. It comes with a wall-wart power supply and an ethernet cable. There is USB port but no cable is provided. One simple vertical white light is the only physical user interface. Aside from the color a very handsome package. My only issue is that the light NEVER goes out completely and is relatively bright. Consider that when deciding where to position it. Id prefer that the light have a sleep mode that would shut it off after a period of inactivity.

Set up is as simple as plugging it in and patching the network cable to your router. The included software does the rest. It finds the drives and maps them to your machine. The software must be loaded onto any machine on your network that you want to have access to the drive or to backup. A simple and pain free process.

Moving data to the drive is time consuming. Transfer speeds are slower than both my external and internal drives (not unexpected). Not a deal killer, just be aware that the initial data transfer will take a while. Once loaded the read/transfer speed is fast enough to stream music and movies to my laptop without issue. You'll notice that write speed was not one of my requirements as this is a back up & RAID drive. The drive has no fans so it is very quiet. Even when read/writing and sitting right on top of my desk I rarely notice it. I am a bit concerned about the long term viability considering it doesn't have fans and the venting on the top, bottom and back panels will let in a lot of dust.

I have not as yet set up a MioNet account (free with purchase, otherwise $79/Yr.) so I can't comment on its usefulness or interface.

In summary this unit has met my expectations for what I needed. No unpleasant surprises but no exceeded expectations. From a pricing standpoint it's a good value. Today the drives inside retail for $99 each. So you are paying $149 for a case, power supply, software, ability to network and a cable. A good deal in my book.

I don't hesitate to recommend the product and deduct a star (remember thats 20%) for the Cons noted below. I sleep better now knowing my pictures and media have a better chance of surviving through my lifetime.

Pros:
Peace of mind knowing pics are safe
Easy to set-up and network
Easy to use software
Quality construction
Everything included
Free MioNet account

Cons:
Slow write speed
Always-on status light

Great choice for a media server
I just installed this on my home network with the intention of centralizing my media storage. I was immediately impressed and surprised with just how easy it was to set up media sharing across my whole network. The included twonky media server works as expected (in fact better, I like the firmware version more than I like the PC), and comes with options for streaming internet Radio.

To give you an idea how it works, when you install the system it creates two mapped drives on your PC. One of these, the "public" folder, contains additional folders for songs, pictures, and video. You simply copy over your media to the appropriate folder. I was then able to immediately play them on my DNLA enabled devices (a Denon AVR 4308 CI, and a Sony KDL-W-5100 series TV). Set up honestly couldn't have been easier.

The out-of-the box RAID configuration was also a plus, and I've also had good luck with WD's backup program.

MIOnet itself seems to work as advertised. Yes, it can be slow, but I use direct mapping of drives vs. mio.

Works flawlessly
Purchased a week ago. Finished backing up all of my stuff. So far I am very happy with the purchase.

Pros
(1) Easy to use. I started copying files 15 min after opened the box (I did some configuration before actually start using it). Web interface is intuitive and easy to use.
(2) Small. I put it in the TV cabinet (next to my DVR)
(3) Cheap (in terms of price per GB) compared with other small home NAS.
(4) Quiet. Never noticed a noise.
(5) Customizable. Some options which required some hacking for older versions are now available through the web interface. For example, you can easily...
- Turn off Mionet
- Enable SSH
- Enable FTP
- Change between Raid 0 and 1
(6) I think the blue light is cool (as opposed to another reviewer who wants to turn it off).
(7) Default is Raid0 (Mirror). I remember somebody mentioned that the default used to be Raid1 for an older version of My Book, but that's not the case anymore.

Cons (not many)
(1) A bit slower compared with newer (and more expensive) models. But unless you are copying a coupleof GB files like movies, I did not find it a serious problem. Actually, (I might be wrong but...) I feel that the machine is more responsive after turning off Mionet. I use SFTP to access remotely which is fast enough and my guess is it is faster than through Mionet.
(2) It would have been nice if I can connect the unit to my PC through Firerie, eSATA or USB
for a faster initial backup.

All in all, so far I am a happy customer. The only thing I have to figure out is a way to do the incremental backup without using the default software. (does it require mionet?) I also want to try the media streaming function (using DLNA). I might add to this review after I try these things.