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Build might be overkill, but I am ok with that. Will be a replacement for a WD Live Plus. Will run windows/XBMC and stream HD over the network and internet. I plan on powering it with a PicoPSU-160-XT, 192W Power Kit. See anything I should be worried about??

PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: Intel Core i3-4130T 2.9GHz Dual-Core Processor ($139.99 @ Newegg)
Motherboard: Gigabyte GA-H87M-D3H Micro ATX LGA1150 Motherboard ($89.99 @ Newegg)
Memory: G.Skill Value 4GB (1 x 4GB) DDR3-1600 Memory ($38.99 @ Newegg)
Storage: Crucial M500 120GB 2.5" Solid State Disk ($79.99 @ Amazon)
Case: Silverstone ML03B HTPC Case ($59.99 @ Amazon)
Optical Drive: Lite-On iHAS124-04 DVD/CD Writer ($25.99 @ Amazon)
Total: $418.94
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-02-20 23:08 EST-0500)

I've found in my testing there's no real need for the i3-4130T over the i3-4130. The i3-4130 runs very cool and low power already. For normal HTPC usages, it will make no difference.

i3-4130 for $25 less than i3-4130T: http://www.directron.com/bx80646i34130.html ($114.99 @ Directron - I buy from these guys all the time).

Do you anticipate a problem with the pico psu?

More than enough power for that combination.

Thanks for the replies.

Changed the CPU to the non "T" version, and ordered now that I know the Pico will suffice.

Thanks again!