Western Digital My Book World Blue Rings "NAS" controller uses

Recently came into posession of a WD "Blue Rings" NAS setup. I've rapidly come to the conclusion that it really isn't very good as a NAS, and doesn't even do what it's supposed to (I can't even get SSH to stay up or reliable connections from computers). It has a ARM-based board with an Oxford OXE800, VIA Ethernet, onboard USB, provisions for a serial port (provided I supply a level converter to go to RS-232 from the supposedly "standard" 3.3V to a real standard). The big downside is the BGA RAM chip with only 32MB. I guess it's probably in the junker category since there really isn't any way I can expand the RAM (1 BGA 256Mb DDR chip, no extra pads), but I thought I'd check because I've been interested in the Pi for a bit and then this dropped into my lap - any thing that can be done usefully with this HW?