I'm looking at it too. QNAP does NOT provide their usual 1 year warranty for refurbished products, so that's the real gamble. In general, that's a great deal. But do we want to risk it? A computer friend of mine has heard of mwave before and they seem reputable. Also, the item could be "refurbished" because someone returned it, there was a cosmetic defect, or maybe even something burned up on the motherboard and they had to fix it. That's what I wish we knew. Another line of thought is that if something did go wrong, it's already gone wrong on that unit and they've fixed it. Overall, I can't decide between that and a new TS-439. Have you decided?