The one biggest gripe about the Media Panel is, that if you are keen on keeping the inside of your case clean, and have good airflow, the panel will scrap that. As you can see, there are many cords and cables that are required if you wish to take advantage of all the functionality.
Also because of the numerous cables, the Panel is not easy to install, at least I have found. The easiest way to do things, is to mount the Panel into your case, and then connect everything. But because the Panel is in a shorter frame, compared say, to a CD-Rom drive, it’s hard to reach all the way in and connect the cables.
Even though I enjoy using small hardware (:-|), I do wish the Panel was a similar size to an Optical drive so that connecting the cables would be much easier. At any rate though, this may depend on your case, and you may not have issues. In terms of cases though, I think the bigger, the better, because in the case I am currently using, Case-51W, I found it impossible to reach my hands in to do anything.