These are the things im looking for:
Power and reset buttons
USB 2.0 or higher hub at the front
1 or more 5.25" external drive bay
2 or more 3.5" internal drive bay
Support for ATX motherboard.
Support for standard atx power supply
It dosent have to be tiny, just not huge. Just to fit in a tv unit
If it has a built in IR reciver that would be just perfect but its not required.
Good cooling solution.
and I dont wana break the bank for it either, no more than US$150.