Currently have LG tv with inbuilt Plex that connects to PSM on a Windows laptop (that is old/noisy), media is on a simple NAS (not plex capable). Already wasted a bunch of money on a Shield TV, so looking for some expert advice.
Requirements:
Is it even possible at this budget? What would be the closest option?
Thanks in advance 
You’ve put this in the ‘Streaming Devices’ subcategory and some of your questions relate to the player, but you’re also asking about a server. The ability to handle 4K@60 and the various other things on the server side depends entirely on whether the server will have to transcode media or whether you’ll store all of the media in the desired playback format.
The ability to output TrueHD and/or Atmos is controlled by the playback device, not the server.
This is what I use depending on the one you get you can do a lot with these little things. I have one of these hooked up to my main TV in my living room and I play everything through it. Netflix,Plex,HDhomerun, web browser basically anything you can do with a PC. Works great.
There are also NUC Stick
They are lower powered and can only do HDMI 1.4b so basically 1080p. But they are basically a computer on a stick kind of like a firestick or roku stick but in my opinion better because they are full windows installs. Throw these in bedrooms and your good to go.
Also 250 is really cheap with that kind of money you may want to look into used or reburbished. 4k@60 HVEC and HDR10 I mean those are pretty high end specs and I think Atmos is also the latest relase from Dolby. I mean you will need to spend more then 250 for anything new in my opinion.
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