i am also on the look out for deals on slick deals...i know it will be over kill to get an i5 3.3 ghz but suppose theres a deal on it. will it be smart to jump on the deal? or will it get too hot and loud?
You could shrink that price a bit with a cheaper motherboard, just went for that one because it has 4 DIMM slots. Be sure to get 1866Mhz C9 memory to make the most of that CPU though, it relies on having decent memory unlike most Intel CPU's.
A cheaper CPU like an A6 or A8 would be fine as well.
Another suggestion as well would be to buy a cheap NAS instead of hard drives, it has loads of benefits. Means you can have a smaller, more stylish case for your HTPC and it will stay more quiet. Also means that other PC's on the network can access the content too.