This report is an advanced functional analysis (FAR) of the Sigma Designs SMP8642, which is a secure media processor. This processor, which was introduced in the Consumer Electronics Show (CES) back in January 2009, was touted, together with Sigma Designs Blu-ray Profile 2.0 software suite, as having the highest performance interactive experience, while at the same time offering a cost effective architecture. Theis Advanced Functional Analysis Report provides an in-depth functional analysis including board level identification of devices, in-depth discussion of the architecture of analog blocks not identified by public documentation, and I/O analysis.