Anyone try the Kaleidescape Strato V? Seems to eliminate the need for the crazy server?

I've had one for a little over one month. The sound of movies is significantly better than any streaming service.

What about vs. a ultra bluray?

If you want the best possible audio and video, the KScape stuff is the best. If you intend on buying a bunch movies you'll want a Terra as well. If you are only going to rent stuff then the strato will work. 

Keep in mind that KScape is not a streaming service like Netflix. If you rent a movie you have to wait for it to download (which is approx 6-10min on gb internet speed) before you can watch it. 

On a side note, bit for bit to the original file, it'll best even a 4k bluray disk. 

I have the Stratos S with 6TB of internal storage, and I love it. I’ve considered upgrading to the V for Dolby Vision, but honestly, that feature is overhyped. I can watch the same movie on my Oppo 205 and my Kaleidescape, and I don’t notice anything missing—it’s that good.

The S model is no longer in production, so you’d have to find one on the secondary market. I ended up getting the full server setup and love having hundreds of movies available for instant playback. I do delete movies I’m unlikely to watch again and keep an Excel spreadsheet of my collection, which I share with friends for movie night selections.