Last year, HP impressed us with its MediaSmart EX487 (February 2009), a Windows Home Server that shipped with proprietary software we actually found useful. The EX495, this year’s follow-up, is focused on improving accessibility and addressing user requests. This third-generation Windows Home Server isn’t so much an overhaul of last year’s machine as it is a calculated iteration; the same unassuming case packs significant hardware and software upgrades that are the most compelling reasons yet to adopt the Home Server platform.

First, the hardware in this box looks more like a desktop PC than a bare-bones backup device. Instead of an Atom or Celeron processor, the EX495 is powered by a Pentium Dual Core CPU running at 2.5GHz—an upgrade that speeds up video processing and opens the door to real-time transcoding. Even with the increased horsepower, the machine maintained low power consumption during backups and idle states, and pulled far less than 100W during heavy load.

Continue reading this review after the jump.