Awesome, I've been thinking about building an HTPC, but beginning to balk at the power cost compared to some sort of streaming device and low power storage unit connected over N wifi. If there's box that has spdif out I'll buy it straight away (for high quality DA audio conversion).
Check into the ZOTAC Z-Box. The power consumption is pretty decent compared to a full Micro ATX or ITX. It has optical and HDMI audio. Wireless N... I'm running OpenElec on mine and it's very responsive.