I'm not sure what you see is wrong with "hub level technology." Yes the switch has changed things a lot, but there still has to be cases where there is a shared channel medium. In reality, if done right, Powerline ethernet can be much better than wireless (which would also count as "hub level technology"). There is much more control over a powerline network than wireless as well. In my case there are so many APs around in my apartment building that signals are horrible, plus the fact that there are very few bridges on the market that have a built in switch for multiple devices (like I would need). In general most wireless tech is not very good and unreliable even in less noisy situations. A lot less money has gone into developing for powerline networks, which is unfortunate. For many things they are a much better alternative and don't take an extra cable. With all the devices that are now networked (Blu-ray players, cable boxes, etc.), wouldn't it be nice to be able to just plug in the power cord and be connected to the network as well. Instead I have several ethernet cables hanging out of the back of my entertainment center. I guess I went on and on here, but both powerline and wireless ethernet have generally the same pitfalls to design for. However, if done right the powerline can be much superior for data rates and noise issues. Now that said, is the current implementation of powerline equipment up to snuff? At least you don't think so... Personally, if i had a choice, I'd run a CAT5/6 cable and be done with it. It would probably be cheaper to do than the alternatives as well.
Edit:
After I wrote this, I felt it sounded like I was upset. I am not, but I am just speaking from my own experiences and knowledge.
Edit2:
I forgot to actually talk about what I meant to... Whoops. I agree with you that it is better to use separate devices that are specific to their tasks and do a good job. However, at some point that becomes silly as many redundant things have to happen. With the right hardware, there doesn't need to be any trade off of quality and functionality. That is why in my first post I mentioned about the processing power of the device and its ability to actually handle the work load. In reality the thing that needs to really be integrated is the cable modem and the router. There are very few people these days that set up broadband service without a router. It just makes things simpler and reduces out two cluttering cords. If Dlink decided to make an integrated cable modem with a nice router (DIR-655) for $150, I would buy it tomorrow (assuming that I can update the firmware myself - a pitfall of some other combined devices). Now back to the powerline stuff, since I think it would be nice to start integrating all kinds of devices with it the router could be another possibility.