Does anyone sell a cheap, DVD player-sized "All Media" player?

As purely digital formats become more and more popular for watching movies and shows, I was wondering if anyone makes something that will connect to a standard TV and take USB memory sticks or hard drives, then play/decode Divx, Windows Media, AVI, etc. I’ve been doing a lot of watching like this with my Xbox 360, and a friend wondered if there was something he could just pick up to connect to his TV and connect memory sticks or a hard drive to.

This is the best site I have found for similar things.

Not sure what your definition of “cheap” is, but hopefully it will give you a good starting point.

Take a look at the Neuros OSD.