Im suggesting an Apple TV for your Netflix needs, not for airplay. I only mentioned my specific use of that device because I dont need Netflix at all, and the Apple Express interferes with my home network.
The Apple TV is only $100 anyways (and very easy to sell if you decide to do so), so just get one of those cheap Egreats for 5K or 6K that plays MKVs and does your jukebox thingy? Total cost would then be about the same as that of PCH300, that is, if total cost is a concern. You dont seem to need full BD navigation anyways.
You want to take your chance with the WDTV and save money? ikaw.