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Question: Home Theatre (HTPC) systems

I want a computer to record over-the-air TV, play Blue Ray DVD, connect to my LAN (cable or wireless best??) and to internet for Netflix, Hulu etc. I want convenience (simple to program timed recording of tv shows, easy to fast forward thru commercials) but also want something i can upgrade myself as technology changes. What motherboard, cpu, graphics and software do people suggest?