Hughie;
Both are each excellent products.
The BEOPORT, which was released first, connects to your PC or MAC and certain B&O music systems. It allows you to access: N.RADIO, N.MUSIC, PHOTOS, TV, local RADIO CD, and PC. Using certain XP PC programs it also allows VIDEO clips to be played, such as MY VIDEOS. I do not know about Vista, as I avoid it like the Plague, and now use a MAC Leopard + MS XP combination.
You can control the BEOPORT using the BEO 4./ BEO 5 remotes, or your computer mouse, on screen. If you are set for Master Link, features and access are expanded to different rooms, using the same remotes.
BEOMEDIA, the newer product, is a separate unit, with more features than the BEOPORT. When you first program BEOMEDIA, it allows all of the features above in BEOPORT, plus surfing the Internet stations or web favorites you assigned in the set-up. I control the BEOMEDIA strictly with the BEO4 remote, which I think was the point.
I use both with BEO 4 remotes in different countries + locations. Both are connected to Home Theatre systems with non-B&O flatscreens, and they work very well.
If you wish to enjoy something today, your choice of the BEOMEDIA is a good decision. Then there is the the future possibility of the yet to be released BS 5.
There has been speculation and discussion here about the BS 5 product which is quite interesting, but this appears to be many months, or possibly 1 year away. Based upon comments from members in the know, it appears to include BEOMEDIA and digital memory storage + recording, in addition to radio, cd, and possibly other innovative features.
Looking at some of the recent Sony PC products, one can speculate on what the BS 5 would feature, and look like combined with a B&O flatscreen. This could be one logical development pattern of evolution expected in the Beosystem products. Food for thought.