Build a HTPC running Media Portal software. I love it, and it'll do all you want it to and more. It takes what you love about Media Centre and fixes the bits that MS broke (native BR playback and PVR stuff).

Its free and is constantly being improved thanks to a large team of volunteers. Its also got a very active online community with busy forums. Think of it as the empeg of the HTPC world. http://www.team-mediaportal.com/