Receintly Mac has come out with the Macmini which is very small and lower price computer. Other companies have tried to design computers or media centers with the same characteristics. Microspace has it's version of Microsoft's media center and it looks promising. Here is an article clip from I4U.

"Thanks to a power-saving design, the Microspace does not have a fan and is making no noise. The Microspace is also not much bigger than an external CD drive. As all Windows XP Media Center PCs the Microspace offers integrated functionalities like: TV, digital video recorder, radio, MP3 player, DVD player, DVD recorder, electronic program guide, Internet, mailbox, computer and home server.
No information on if this device is available in the US. "[via I4U]

More details on Digital Logic .