First HTPC

This is my first build of any type of computer so I am looking for some advice. I would like to build an HTPC. Looking to build a copy of the NinX Ultimate HTPC for around $700.00.

http://www.ninx.com/nianhothpchu.html

I changed the mobo and dropped the graphics card because I will not use the HTPC for gaming. I am looking to use the HTPC to play back blu-rays, use Boxee to stream DVD ISO files from HP Media smart server and browse the internet with a wireless key board.

I would like to know if the components I have chosen will function together as a unit to display 1080p HD thru HMDI to a 52 Sony LCD TV. Will I be able to bitstream DTS HD and Dolby True HD to my receiver for decoding? Will this Setup when combined with Windows 7 media center allow for easy internet surfing and media play back. Is this overkill for what I want to do? I am willing to go cheaper but don’t want HTPC to be obsolete in a few years.

Any help would be appreciated!!!

Listed below are the parts that I selected for my first build.

Antec Black Aluminum / Steel Fusion Remote Black Micro ATX Media Center / HTPC Case
http://www.newegg.com/Product/Product.aspx?Item=N82E168...

ASUS P7H55-M PRO LGA 1156 Intel H55 HDMI Micro ATX Intel Motherboard
http://www.newegg.com/Product/Product.aspx?Item=N82E168...

Intel Core i5-650 Clarkdale 3.2GHz 4MB L3 Cache LGA 1156 73W Dual-Core Desktop Processor
http://www.newegg.com/Product/Product.aspx?Item=N82E168...

GeIL 2GB (2 x 1GB) 240-Pin DDR3 SDRAM DDR3 1333 (PC3 10660)
http://www.newegg.com/Product/Product.aspx?Item=N82E168...

Western Digital Caviar Green WD6400AADS 640GB 32MB Cache
http://www.newegg.com/Product/Product.aspx?Item=N82E168...

LG Black 10X BD-ROM 16X DVD-ROM SATA Internal Blu-ray Disc Combo
http://www.newegg.com/Product/Product.aspx?Item=N82E168...