Portable Media Player Enclosures and external hard drives

I have an external hard drive at the moment and ive known about enclosures that allow you to play movies and content directly to your tv. I wanted to know the best solution for maybe an enclosure that plays most formats that doesn't break the bank. Maybe some kind of adapter that i can attach my existing 400gb external hard drive to (via usb)? Or use my spare 160gb hard drive from the other external hard drive that stopped working to put in a cheap enclosure. Any ideas guys and gals?

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