I'm also planning in building a (silent) HTPC in the near future.
I've done some research on a couple of websites and I see 2 possible builds which are both excellent for playing HD files.
First is a system based on the AMD 785G chipset.
Components:
Gigabyte GA-MA785GMT-UD2H
AMD Athlon II X2 250
2 GB DDR3 Memory 1066/1333 MHz
Samsung Spinpoint F3 7200 rpm or Spinpoint F3 EcoGreen 5400 rpm (Amount is your choice)
Be Quiet! Pure Power L7 300 Watt
Scythe Big Shuriken
DVDRW/Blu-ray is your choice
WiFi card if you want Wireless Network
The other is based on the Intel H55 chipset.
Components:
GigaByte GA-H55M-UD2H
Intel Core i3 530
2 GB DDR3 Memory 800/1066/1333 MHz
Samsung Spinpoint F3 7200 rpm or Spinpoint F3 EcoGreen 5400 rpm (Amount is your choice)
Be Quiet! Pure Power L7 300 Watt
Scythe Big Shuriken
DVDRW/Blu-ray is your choice
WiFi card if you want Wireless Network
Both have optical S/PDIF-out and integrated graphics which are perfectly capable of playing 1080p HD files. The last setup has better performance, but it's also more expensive! As for energy consumption and noise, both are low
As for OS, I would probably go with Windows 7 Home Premium 64bit.
The OrigenAE S10V is the most beautiful HTPC case I've come across, but it's also very expensive. Also note that with this case you'll need a slim optical drive (slot-in?).
I'm also liking the Antec Fusion, which is a lot cheaper
Greetz,
Yoshimitsu