Originally Posted by klw
Does it do anything that an HDMI cable from the device to the TV doesn't do?
Yes/no. You can get a ton of free apps that will control your laptop from your phone, or pay a little extra and get really good ones. In that case, absolutely not.
This does give you the extra part where it doesn't require an HDMI cable. Of course it is also going to slow down your wifi.
My xbox360 can do all of this and more. Sure, my phone isn't the remote, but I have a controller that works just fine.