Xbox, Mod Chip, XBMC (Xbox Media Center), and the DVD kit.
Boot straight into xbmc, plays tons of codecs, mp3's pics, shoutcast, etc.
Cheap. (If you get someone to flash your tsop, you don't even need to buy a mod chip).
I've got 2 of them, one with a 120 gig hd full of Kids movies for the kids, and 1 with the standard 8 gig drive running network only.
The only downside is that most xbox units cannot read cdr media, but I just play the files off my main machine..
(Downloaded a movie? just play straight from the bin/cue of iso file)
Later,
dabone