I am thinking a HTPC with a DVI video card and 5.1 analog output to a five channel amp and powered sub. This will be most compatible and cheapest to upgrade early (although most technically difficult) for the next 1-2 years. With an ATSC tuner card and/or DVB-S card it could be tivo like with dishnetwork HD/SD(with correct software
PM if your curious) and OTA HD. Software can decode DVD-A and potential future surround formats(sorry no SACD) and H.264 HD, WMVHD and other HD formats with DRM, Mpeg2, Mpeg4 whatever. It could be a top notch DVD player at the moment and upgraded to HD/BD DVD when drives and content become available.