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Thread Starter 
Hey all so I've been looking into building an HTPC that will also double as a Server for all my backups and potentially some VM's/Minecraft Server. This is all new territory to me and I honestly have no idea what is overkill and what isn't. I was originally looking at doing an older LGA 1366 Xeon build with 2x Xeon L5630's but i'm not so sure anymore. Hence why I'm here. So to get things started I'm going to list uses and their priority to me.

5- This functionality will be my guiding principal in all decisions
4- This functionality is highly important and I would prefer not to sacrifice it
3- This functionality should be present given reasonable compatibility with my other goals
2- If this functionality is present it will probably be used
1- If this functionality is present it may be used
0- This functionality is insignificant

Video features:
*Playing DVD: 5
*Playing Blu-Ray: 5
*Playing HD-DVD: 1
*Playing archived video files at up to 1080p: 5
Audio features:
*High-quality output for external amplifier: 3
*Multi-channel positional output for 5.1/7.1 audio: 3
PVR (Tivo-esque) features:
*Scheduled recording & playback of HD signals: 3
*Time-shifting of "live" TV: 3
*Simultaneous recording & time-shifting: 3
*Viewing and recording a combined total of more than 2 HD channels simultaneously: 3
Storage features:
*Store compressed audio files: 3
*Store uncompressed audio files: 3
*Store compressed video: 3
*Store high-def video: 5
*Read from SD/MMD/Compact Flash etc: 1
"Computing" features:
*Browse web & send/read e-mail: 3
*Archive CDs/DVDs: 5
*Archive Blu-Ray discs: 5
*Archive HD-DVD discs: 3
*Burn DVD (+R, -R, DL): 3
Gaming features:
*Play "classic" video games: 3
*Play "modern" video games: 2
*Play "latest" video games: 2
Network features:
*Playing streaming internet video (Hulu, YouTube): 5
*Play streaming internet/local audio (Pandora): 5
*Play streaming local compressed video: 5
*Play streaming local high-def video: 5
*Serve streaming audio: 5
*Serve streaming video: 5
Aesthetic features:
*Small physical footprint: 0 (I currently have a Apple G5 case i will be modding to house components but may want to switch to something smaller down the road)
*Attractive/professional appearance: 3 (Would prefer a very sleek, clean, minimal look.)
*Outward appearance indistinguishable from home audio/video components: 2
*Low noise levels: 3
*Low power consumption: 4 (The lower the better since it will potentially be on 24/7)

Items already acquired:
*3x WD 3TB Reds
*Nvidia 9500GT (pulled out of old computer)
*Apple G5 case (currently in the process of modding to fit up to a E-ATX board)

Preferably <400 but could be negotiable.

I feel like I am forgetting a couple things to mention but I guess it will have to do for now. Hopefully this can give you guys an idea of where i should be starting as this is new territory to me. I appreciate all the help in advance. Thanks!