How good are Mini ITX systems?

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Im interested in building a Mini ITX based Home Theatre PC. Ive never built with this form factor and I havent found a huge amount of information about them.

I intend to use the PC as a media centre, probably running Windows MCE.

I want to use it as a PVR and also play content from it, hopefully uncluding High Definition content.

I know HD requires a bit of power from the PC, so can an ITX based system come up to the challenge?

ANY info, advice or experience would be much appreciated.

 

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Thanks for your response. I have checked out that site but im not looking to make a funky case, just a notmal one.

Im aware of HD capture cards that would work, my real concern was playing HD-DVD or BLUE-RAY media, as I know they take a lot of computing power.

I dont know if Mini ITX systems are up to this task, as it seems as far as I can see that their PCI-E slots run at only 1x.

Anyone else with furthur info would be appreciated.