I would spend a bit more. Closer to 400 and you would have dynamite HTPC. Grab a 5800k or 6800k (probably go 5800k to save money and its really not that much worse) and then just get whatever board/case/HDD/ram is the cheapest you can find. Only other thing I wouldn't cheap out on is the PSU. Don't want some crap off brand PSU frying your system. EVGA makes a fairly low cost 500 watt 80+ bronze unit. I got one for a friends computer for 30 bucks after rebate.