MOBO -
http://www.newegg.com/Product/Product.aspx?Item=N82E168... - $110
GIGABYTE GA-H55M-USB3 LGA 1156 Intel H55 HDMI USB 3.0 Micro ATX Intel Motherboard
CPU - i3-530 -
http://www.newegg.com/Product/Product.aspx?Item=N82E168... - $120 ( $100 if you have a local Microcenter)
Case -
http://www.newegg.com/Product/Product.aspx?Item=N82E168... - $90
SILVERSTONE Black Aluminum / 0.8mm SECC GD05B micro-ATX / Mini-DTX / Mini-ITX MB, 1x5.25", 2x3.5"+1x2.5"HDD or 1x3.5"+2x2.5"HDD, 3x120mm golf bladed fan, 11" expansion card capable HTPC Case
RAM -
http://www.newegg.com/Product/Product.aspx?Item=N82E168... - $105
G.SKILL Ripjaws Series 4GB (2 x 2GB) 240-Pin DDR3 SDRAM DDR3 1333 (PC3 10666) Desktop Memory Model F3-10666CL9D-4GBRL
PSU -
http://www.newegg.com/Product/Product.aspx?Item=N82E168... - $60
Antec EarthWatts Green EA-430D Green 430W Continuous power ATX12V v2.3 / EPS 12V 80 PLUS BRONZE Certified Active PFC Power Supply
HDD -
http://www.newegg.com/Product/Product.aspx?Item=N82E168... - $80
Seagate Barracuda 7200.12 ST31000528AS 1TB 7200 RPM 32MB Cache SATA 3.0Gb/s 3.5" Internal Hard Drive -Bare Drive
CD/DVD -
http://www.newegg.com/Product/Product.aspx?Item=N82E168... - $22
Sony Optiarc Black 24X DVD+R 8X DVD+RW 12X DVD+R DL 24X DVD-R 6X DVD-RW 12X DVD-RAM 16X DVD-ROM 48X CD-R 32X CD-RW 48X CD-ROM 2MB Cache SATA DVD/CD Rewritable Drive - OEM
OS - Windows 7 Home Premium - $100
Keyboard/Mouse -
http://www.newegg.com/Product/Product.aspx?Item=N82E168... - $34
Logitech Black USB Wireless Desktop MK300 Keyboard and Mouse
Total - $601 (Before rebates and shipping)
With this setup you will not require a video card...the i3 has more than adequate video capabilities for HD playback. I just completed a build with these components and I am very happy with the outcome. We just completed backing up our DVD collection. We were just watching the other day and we could hardly tell a difference between playing a DVD in our Blu-Ray player (which is supposedly up-converting) and watching the DVD backup on the i3 PC.
If you ever wanted to get into recording TV...a TV tuner card would be required something like this...
http://www.newegg.com/Product/Product.aspx?Item=N82E168... - $124