XBox360+PC=the best option right now.
With the new terabyte sized hard drives coming out and with the remote access capabilities of the 360 you can hide the pc and use it as a movie/media/recording terminal while just showing the 360.
I find having my toons on my hard drive is much more convient than having to play with discs, disc drives, dvd players, vcr tapes. Much easier to access, and the random jukebox function means I have my favorite shows all the time with no comercials. and no dud shows!
In a couple of weeks, Apple TV may be the best solution.