Second generation HP MediaSmart Server ex485 (750GB) and ex487 (1.5 TB) owners will soon receive the second update of the year for the series.  The version 2.5 update adds loads of new and exciting features. Most notable and eagerly anticipated is the automatic video conversion which allows users to convert any non-protected media files to a variety of different formats. Another new feature, iStream gives users the ability to stream content directly to one's iPhone and iPhone 3G.
Lastly there  are a number of smaller and subtle enhancements to various existing features, improving the Media Collector and Apple Time Machine configuration.

Philip Churchill and Alex Kuretz give us a very detailed scoop with screenshots and more info about the next upcoming HP MediaSmart Server ex48x series update.