Vizio’s been talking up Google TV since CES 2011. Yet very little seemed to materialize last year and so 2012 looks to be the year they get serious… with the introduction of new Google TV-powered televisions, Blu-ray deck, and the “Stream Player” shown above.

Building upon their VIA branding (as in Vizio Internet Apps ) and interface, the Stream Player will take on the likes of Roku and Apple TV in the compact, Internet-connected set-top box space. Of course, we’re still not quite sold on the Google TV 2.0 experience but this looks to be the smallest gTV offering and features a highly practical Bluetooth remote with a touchpad on one side, and QWERTY keyboard on the other. Additionally, it kindly provides shortcut buttons to Netflix, Amazon, and Vudu apps. As to launch timing and pricing, Vizio suggests we stay tuned.

VIZIO and Google today jointly announced the introduction of the VIZIO VAP430 Stream Player, an innovative stream player that turns any HDTV into an enhanced VIZIO Internet Apps Plus (V.I.A. Plus) smart TV that incorporates the latest Google TV. The Stream Player allows consumers to access countless entertainment content and online services with web access through a fully capable Chrome browser, and to also enjoy photos, music and video stored on any computer, hard drive or smart phone connected to a local network and/or the cloud.

With the VAP430 connected to an HDTV over an HDMI cable, users can quickly and seamlessly access content and services from their favorite apps and websites using the included Bluetooth premium universal remote control with integrated touchpad. In addition to movies, TV shows and music on demand, the VAP430 lets users search the web for even more entertainment options using the Flash-capable Chrome browser.

Using the included premium remote with QWERTY keypad and integrated touchpad, viewers can easily search for any program or content they want from their favorite apps or the Internet. Users can also check out new apps from an ever-expanding Android Market, or access personal media like videos, photos and music that are stored on devices connected to the same home network as the stream player. Images are displayed right on a connected TV set, and sound plays through the TV or a connected audio system.

Roku intends to expand their digital media offerings later this year with the Streaming Stick — bringing Roku’s flavor of  Smart TV capabilities to perhaps lower IQ sets. This doesn’t exactly mark the first time Roku has thought outside the box, having made their technology available for license in 2010. Yet, that initiative seems to have sputtered with apparently no HDTV takers and only a limited hardware run by Netgear. Whereas the Streaming Stick represents a more palatable hybrid approach for both potential partners and consumers alike.

The Roku Streaming Stick, slated for a late 2012 delivery, is described as the size of a typical USB thumb drive and contains just about everything that makes Roku a Roku, including processing and wireless capabilities in addition to their software experience. The relatively new MHL (Mobile High-definition Link) spec frees Roku of its current HDMI and power cables, with compatible HDTVs from Samsung and Toshiba already on the market. However, while at Sling, we similarly attempted to repurpose the HDMI connector for non-HDMI functionality… and it led to all sorts of user confusion. So I can imagine folks picking up the Roku Streaming Stick assuming they can simply plug it into any HDMI port and ending up frustrated, leading to increased Roku support costs and returns. Which is probably why Roku has also announced a partnership with Best Buy, who intends to bundle the Smart Stick with select MHL-capable Insignia-branded televisions — probably a simpler, cheaper, and all around  less risky proposition than say the TiVo TV.

Of course a lot can happen between now and the end of the year. Plus, we don’t imagine Roku would cease development of their successful stand alone boxes. And GigaOm wonders if 2012 is the year Roku looks to sell (to Intel?). But, as a customer, what I’m looking for is more premium content, YouTube, and a refreshed UI to better manage the oodles and oodles of Roku channels.