I have had a video card with HDMI out to tv for some time now. But only because I had the extra computer, and a spare HDMI Port on my TV. It makes it nice if you are ripping video to hard drive, Surfing the net or you like to play solitaire (Or Spider Solitaire if you are a real biker) at 55 inches. Other than that an Xbox 360 will do it all, pretty much, and costs less to build. One advantage to having a system for the multimedia, is that you can use it as a server/File Share, because you can buy massive drives for cheap these days. The idea is to buy a solid state drive for the OS and Apps to run on, then a massive drive for data. Then Windows 7 64-bit with about 16GB of RAM will make your system extremely fast. You can get 2TB drives, most systems will take 4 total. This will leave you with like 6TB for data. Not sure how much BS it takes to fill 6TB, but it's probably at least a couple years worth. Video is also very important on these systems. If you get a Video card with at least 1 GB memory you should be good. I mean you can set this up initially for under $400, but you will end up adding to it in the end, but that is the way of technology anyway. Hope it helps.
06 FLHTCUI Ultra Classic
88 inch, Stage 1, cheap-o slipons
Other than that is very stock.