Build a beautiful, powerful, and quiet Media PC
These days it is becoming increasingly common for people to "cut the cord" and get rid of the expensive cable or dish TV bills in favor of Internet-based programming. High definition televisions are becoming more and more common; many come equipped with rudimentary Internet browsing capability. Apple, Google, and Microsoft all have products that enable consumers to view Internet-based programming on their TVs. Some such devices (e.g., Apple TV, Roku, etc.) are primarily designed to watch video content, while others (e.g., Xbox 360) offer a range of other capabilities, including gaming and local area media browsing and streaming.
Why bother?
Since you can buy a Internet-enabled set-top box rather cheaply these days, why bother building a dedicated machine for viewing Internet TV?
Performance
A custom-built system is going to outperform any off-the-shelf unit, by a large margin. The device will be fast. How fast? In the world of media boxes, it will be screaming fast.
Capabilities
The system we're building here will have vastly more capabilities than any currently available dedicated set-top box. It will be able to stream media both from the Internet and your local area network. It will play Blu-Ray, DVDs, even VCDs! It will connect to any networked machine, and grab media content and display it on your TV. You will even be able to stream media from your smart phone. And much, much more.
Beauty & silence
I strongly believe in making computers beautiful. I have picked a gorgeous Silverstone chassis. It will look like it's an integral part of your home theater system. Finally, we will make it run cool and quiet.
It's fun
Component selection
The HTPC (let's call it that, shall we?) needs to be fairly powerful. Most of the inexpensive Apple TV-like devices are severely underpowered. Yes, they can play Youtube and Netflix videos but they really don't have enough computing power for much else. Since we aim at versatility, we need to put some serious hardware into the box. Here's a list of components that I selected.
CPU
Ideally, the CPU would have the best per-watt performance you can afford. It needs to be powerful, yes, but it should not generate too much heat. Therefore, a low-voltage version of the Core i5 or AMD Phenom would fit the profile nicely. I picked the Intel Core i5-2405S Sandy Bridge 2.5GHz. My design includes a CPU and a discrete, dedicated video card. If you'd rather skip the video card (to save space or cost), you should consider one of the new AMD APU processors, which combine fairly powerful CPU and GPU processing on one chip.

CPU cooler
It is absolutely crucial to get an after-market heatsink and fan for the CPU. The stock cooler, while effective, is just too noisy. You'll need to consult the specification sheet of your chassis to make sure the cooler will fit. In my case, I had to get a low-profile heatsink. I picked the Scythe SCSK-1100 100mm Shuriken Rev. B CPU cooler. I've used Scythe products in the past and they all have excellent thermal and acoustic characteristics. Once installed, make sure you enable fan automatic fan control in the motherboard's BIOS so that the fan's rotational speed will change in relation to the CPU's temperature. For most applications, the fan will be inaudible.

GPU
Perhaps I am an old-timer, but I really did want to have a discrete video card, especially one that would handle all of the modern video requirements, including Blu-Ray playback and (light) gaming. I also wanted a passively cooled card in order not to generate any additional noise. Therefore, I went for the HIS H657H1G Radeon HD 6570 1GB 128-bit DDR3 PCI Express 2.1 x16. The card has the additional advantage of having an HDMI output (ready for a modern HDTV) and a low-profile bracket, which is required for small cases, such as the Silverstone MILO Series ML03B Micro ATX Media Center / HTPC Case I picked for this build.

Motherboard
As is the case with most low-profile media PC cases, I was limited to an mATX form factor. There are many, many choices available; some quite inexpensive. I picked the MSI H67MA-E35 (B3) LGA 1155 Intel H67 motherboard. The Intel H67 is not as powerful as the Z68 chipset, but it will be sufficient for my needs. It supports HDMI out (if you don't want to use a discrete video card), SATA 6Gb/s, USB 3.0, and other modern features. I must say, I am really impressed with this motherboard. It has a really useful selection of BIOS features, including excellent fan speed control, and many others. I also like the overall build quality. The motherboard feels very solid and looks good, too.
RAM
Don't skimp on RAM! Go for at least 8 GB and pick a top brand, such as Mushkin, Corsair, or Kingston. I went for Corsair XMS3 8GB (2 x 4GB) 240-Pin DDR3 SDRAM DDR3 1333, simply because I already had it lying around. It's not the most modern type of RAM, but it is of excellent quality.

Power supply
Here's where mistakes are often made. It is essential to choose a top-quality, 80+ efficient power supply, especially one that has been documented to operate quietly. I went for the SeaSonic SS-300ET Bronze 300 W Certified Active PFC Power Supply. You may wonder whether 300 W is sufficient for a modern PC, but, with these particular components, this power supply is going to provide more than enough clean and stable power, and generate very little unwanted noise. Also, you need to consider the power requirements of your motherboard and video card, and make sure that the PSU comes with all the necessary connectors, such as 8-pin CPU or 6/8-pin PCI-E. In my case, the PSU has all the connectors I need. It works flawlessly, remaining cool and quiet regardless of application. Seasonic is a proven brand in power supply design and manufacturing. If you get one, you won't be disappointed.

Blu-ray player
You need one of those to take full advantage of a media PC. I picked the LG Black Internal 12X Super Multi Blue with 3D Playback Blu-ray Disc Rewriter, but there are other excellent choices under $100. The player turns out to be very quiet! I am actually rather surprised at how quiet it is. It certainly outperforms any burner I've tried in the past. It is inexpensive and comes with all the software you need for Blu-Ray playback and authoring.

Chassis
I promised to build a beautiful system. The SILVERSTONE Black Aluminum skin reinforced plastic front panel, 0.8mm SECC body MILO Series ML03B Micro ATX Media Center / HTPC Case is gorgeous! It is slim, yet sturdy. It comes with front USB 3.0 inputs, and plenty of ventilation options. Importantly, it supports a full-size ATX power supply, so you can pick a powerful, yet quiet unit. Don't be seduced by the mini-ITX cases. Yes, you will save a bit of space, but the PSU is likely to be loud, and, usually, of low quality. The chasis is make a nice-looking stand for your HDTV, if you wish to set it up that way. Finally, the fit and finish of this case are superb. The powder coating has a nice texture to it and is relatively fingerprint-resistant.

Peripherals
A media PC is used very differently from a regular workstation or laptop. It is going to be a "lean back" type of device. You are likely to be sitting on your sofa and operate the device remotely. Thus, it would be nice to have a remote controller offering application and functionality shortcuts, or a small, integrated keyboard and mouse pad. I have tried both, and liked both equally well. The Rii Mini Wireless Keyboard is a really neat device. It has a backlit keyboard that is comparable in size to a large-ish smart phone, and an integrated mouse pad. It takes a bit of getting used to, but, after a while, it becomes fairly intuitive and easy to use. If you plan to use the Microsoft Media Center software as a portal to different types of media, you should check out the Windows 7 Vista XP Media Center MCE PC Remote Control. It works flawlessly with the MS Media Center application. It's built well and has a perfectly adequate range and responsiveness.

Putting it together
Building an HTPC is no different from making any other x86 computer. The same methodology applies, but you're going to have significantly less room to work with. Hence, attention to detail and tidiness are particularly important. Plan ahead! Make sure all of the components are going to fit the chassis, and work together in the operating system of your choice. Look up the manufactures' websites and check if drivers are available for your OS. Software There are a few really good HTPC application options out there. For Linux, you can get MythTV or Linux MCE. For Windows 7, Windows Media Center is my favorite. It is very easy to use and allows you to connect to just about any multi-media content available, including cable TV, Internet TV, and local-area content. If you already own Windows 7, you already have Media Center.
Conclusion
A modern media PC or HTPC is a truly wonderful device that should completely obviate the need for cable or satellite TV. If you really need to watch TV, simply get an amplified indoor antena and you'll get all of the major network programming for free. For everything else, the HTPC will give you easy access to a broader variety of media than any off-the-shelf set-top box. You will be amazed by video and sound quality! If you like gaming, you will no longer need to buy an XBOX 360 or PlayStation game console. Just get a Microsoft XBOX controller, and the HTPC will become a fairly competent gaming appliance. And all of it for a reasonable price.
