It is MUCH quicker with USB. Raspbmc default installs natively and automatically. Just monitor the install process and plug in the USB drive when it asks for it. NO HASSLE AT ALL. Tooooo EeeZee.

I have the 256M model and found it far too slow to use for browsing or office programs (running Raspbian). Best use is as a media player with the RaspBMC distro. I have it cat5'd to the router and HDMI'd to the TV. With the RaspberryPi.org shop's codec upgrades, it functions very well as an Airplay audio/video player…

RaspBMC works as an airplay speaker with no additional configuration. http://raspbmc.com/

^this that and the other^

I have a few I would like to contribute that I've not seen anywhere else. How to contribute?