Fry's (in store) has an ECS MicroATX board (945GTC-1333) w. Intel Pentium Dual Core chip (E2180) for $78.99

Combine that with this ...
ANTEC New Solution Series NSK2480 Mini Case w. 380w PSU
http://www.zipzoomfly.com/jsp/Produc...tCode=10006028
$49.99 after rebate ...

Time for the HDD .. Maxtor 500GB SATA
http://shop1.outpost.com/product/4551377
$90

Memory ... 2GB DDR2 PC2-6400 DUAL CHANNEL GOLD GX XTC C4 OCZ - $25 after rebate
http://shop1.outpost.com/product/5436039


$80 (cpu / board) + $50 (case / psu) + $90 (sata HDD) + 25 (ram) = $245 for a media center PC.

Skip the HDD if not needed, now down to $155.

I don't think this price can be beat.