Yes, it works!
http://www.amazon.com/gp/product/B007RT ... 02_s00_i00My Asus Transformer Prime is currently being (mis)used as a streaming media client in my workshop, where WiFi is nearly useless.
Rather than trying to extend the WiFi coverage, I gambled $15 on this dongle, and it works great! Android has the necessary drivers and software built in to support this. Once you connect the device the Ethernet settings will show up. I'm currently using DHCP, but static IP configuration is available as well.
Now that I know this works, my next gamble is going to be on a Mini Android PC
http://www.amazon.com/gp/product/B0091U ... 05_s00_i01plus
http://www.amazon.com/gp/product/B008JG ... 05_s00_i03this will turn my currently not-so-smart 46" display into a somewhat smarter LCD that, most importantly, will be able to stream my slingbox to my workshop TV, along with any other android apps I may need. Browser too!
I'm fairly confident that the Mini PC will work (stable power is a must), as we use one in the office as a browser on the display in our break room for displaying MRTG/Cacti data. The Dinovo works great with it in lieu of the touch screen.