I was more thinking along the lines of a server tucked away in a cupboard somewhere but with something like Thunderbolt wired into the house like electricity... Use that to deliver high bandwidth low latency I/O anywhere... Sort of like your own OnLIVE server.
Nope, a server is still another computer sat in the same room as you and completely defeats the object.
If that Belkin box had 1080p, 60hz WiDi and routed the USB stuff through the regular network than perfect. Nothing else will really do.