Getting a new HTPC together in the next week or so and thinking FM1: I feel like it should be enough power for playing movies and using Google Earth on a big screen. Would go i5+GPU but seems overkill w no gaming. You save the cost of the video card, more or less.
Ill also use it as a central server for data, so starting with one HD but adding more.
I wouldn't go for Hitachi Deskstar. I own one myself. It's so noisy that I'm scared it will die on me any second now. Samsung Spinpoint F3 $60 are pretty good, you acn go for the Seagate Barracuda 2TB 7200rpm around $140. Sata 6gb/s is a marketing gimmick, don't think anything can use its full potential yet.
If you really want SSD. Take a look at the Crucial m4: http://www.newegg.com/Product/Product.aspx?Item=N82E168... Its sustained read/write is 415/95
compared to Corsair's 285/275. Corsair is well balanced but I think read speed is more important because you're only using this to hold your application and OS. Read this with a grain of salt because I'm not experienced with SSD.
1866MHz has an average of 10% increase in performance over 1600MHz. You should buy at least 4GB worth. G.Skill are reputable and their RAMs are usually cheaper than Corsair. Here's a set for $80 http://www.newegg.com/Product/Product.aspx?Item=N82E168... There's another set for at least $20 less but it has no mention of llano and I'm sure it will probably work fine but it's your call.
Where the hell is your optical drive? Do you have no need for one because you plan to download the movies and rewatch it from there? You can grab a decent blu-ray drive for $60 or a cd/dvd burner for $20.
Last of all, I do recommend modular for better cable management and better air flow. Do check up on reviews on the brands. Anything made by Seasonic is reliable but they are more on the expensive side. Antec and Corsair are good. Beware of the V2 of Corsair CX series. XFX has some PSU made by Seasonic so take a look at those as well.