when i bought cubie, my intent was to use it to replace my old nlsu2 which act as umts router, media server, pbx server, download server, and web server (nslu2 has only 32mb of ram, cpu overclocked at 236mhz, and no video output), playng audio and video files directly on it.
After 10 mounths, except for video files (at the moment only hd avi, not full hd and not mkv), i can do all these things, but in the meantime other 2 versions of cubie are released....and i bought 2 mini itx pc, with atom dual core and nvidia gpu, and cheapest than cubie2/3 (more or less same price of cubie1).
Cubie is fun, but is price must be near ras-pi to have a sense...imho.