That's a pretty good mobo already, since it's a mATX motherboard, and its onboard GPU can handle DXVA acceleration of the common video formats like H.264. Now go get a HTPC case and complete that setup.
How's this one.Although it uses DDR2 RAM and a AM2+ motherboard this one is fully feature rich with a router card (no kidding),an infrared remote control and IR detector.
Don't be turned off by using DDR 2 especially DDR2 1066 because the performance difference is not that much less than DDR3.
I have this board and love it (using a Phenom X3 740 BE on it).
It's really ideal to put a Digital TV Tuner in it as well if your using Windows 7 Ultimate or Windows 7 Media Center Edition. http://www.newegg.com/Product/Product.aspx?Item=N82E168...
You could put the GT 240 on that motherboard that I suggested for gaming needs
(Has a slot for using a discrete card instead).
Besides it's a lot more potent than the on board IGP (although as an IGP it's good for light or older gaming).
Here is the graphics card hierarchy chart.The motherboard uses the Radeon HD 4200 so on the chart it would be listed as Integrated HD4200.
Well if it comes with a $20 rebate driving the price down further then it's a great deal.
It's essentially a modernized DDR 3 version of the older GIGABYTE GA-MA785GM-US2H AM3/AM2+/AM2 AMD 785G HDMI Micro ATX AMD Motherboard which is a great board ( I have 2 of those too).