Nice. The ASUS Pundit seems like a great answer to the
Dell Optiplex GX260 (sorry I couldn't find much of a better link). I built out a lab of student-use machines with these things. They're small, quiet, and have DVI output to drive nice big flat panel displays. The lack of kick-butt graphics is a
feature for a student lab. Go play your games elsewhere. The only feature Dell has that I don't see on the Pundit is a built-in speaker. For lab machines, you need enough sound that beeps will be heard, but not enough to usefully play music. For that, you've got headphone jacks.
Now, if what you're trying to build is a home theater PC, the Pundit is precisely what you want. It's got fancy audio and every possible kind of video out. I suppose you could make some claim that an HTPC needs to also be a kick-butt gaming machine, but that wouldn't matter much to me.
Still, since I'm not buying anything new right now, the world will probably have migrated to these new BTX cases and motherboards by the time I need new gear. Then, you'll start seeing every manufacturer having better products in tiny form factors.