The big news for both the Slingbox Solo and the LF-V30 is their ability to accept high-definition input. (The older Slingbox Pro supported HD only through a $50 HD Connect accessory). Setup for both units was easy, though the Sony had the edge: After I turned the LF-V30 on, my Vista PC found it on my wireless network and prompted me to connect to it. (With Windows XP you first have to connect the LF-V30 to your home network via a cable and then configure the device. Then you can set it up anywhere within range of your wireless router.) The Slingbox Solo comes only in an ethernet version, though you can add an optional $80 power-line networking kit (which I used for my tests).
The LF-V30 downscales video to a 640-by-340-pixel window, according to Sony, whereas the Slingbox Solo downscales to a 640-by-480-pixel window. The Solo had a slight advantage in video quality on my home network, but the Sony consistently delivered sharper, higher-quality video and better audio over the Internet. The effect of HD support was negligible, though, as video quality is largely determined by the available bandwidth, and even high-definition video quality degraded severely when I viewed it remotely.
The SlingPlayer software supports an impressive number of devices, including both Windows and Mac computers and a wide range of smart phones. The only mobile device the LF-V30 supports is the Sony PlayStation Portable. The biggest drawback to the LF-V30, however, is that Sony includes just one copy of its LocationFree client software; you must pay $30 for each extra copy.
If you want to stream your TV content to your smart phone, buy the Slingbox Solo. If you simply want remote access to your TV content, I recommend the Sony LF-V30 chiefly because it's easier to set up and delivers better video.