Thank you both for the feedback. I couldn't find much online with others talking about using this type of setup, so I was nervous about spending $50-100 on something that was going to be completely useless.
I am planning to buy my first BluRay player (the S350) in the next day or two, and I've researched the manual online to see how I'll be able to connect to BD Live without connecting an Ethernet cable between the player and my modem (which are on opposite ends of the house). The manual says that...