One of my favorite bloggers, Jeff Atwood of Coding Horror fame has just posted Building Your Own Home Theater PC. Adding to his numbers, if you add a SilverStone case ($100), Seagate 500GB SATA drive ($110) (both from http://www.newegg.com as are Jeff's components) and you've got yourself a pretty nice HTPC for around $460 sans the operating system and tuner card(s) of your choice. Anybody remember the days when a single tuner Windows Media Center box first came out for $2,500 and was OEM only?
My, how times have changed. 