There are a lot of cheap HDMI sticks that offer on-board RAM, Storage and Android 4 support, everything in a small case and with very competitive pricing around $35 including free worldwide shipping.
cnx software compared the MK802 II Mini PC to the raspberrrypi, the cheap android sticks even beat the raspi in price (and features, since the come with 4GB NAND SSD).
Here are two sticks worth consindering. They might be CheapCast compatible, though nanofunk has not tested this yet (we ordered two sticks though, so stay tuned.)
Update: Here is a super-cheap HDMI Android 4 Cortex A9 Stick with 8GB NAND for $30 free international shipping: Bluetooth Android 4.1 Mini PC TV Box Stick MK808B Dual Core 8GB RK3066 Cortex A9