Specs are here: Nick's Media Server
I paid a LOT less than those prices. Those are current prices from various vendors that the config site auto updates. I used so many NewEgg coupon codes (one code per order) that things shipped in 7 orders. Plus I had the previously mentioned $500 gift card from my boss.
For those afraid to click links:
Current 4th gen Intel i5-4430 CPU
ASRock Z87 Extreme4 mobo
G.Skill 8GB DDR3 2400 RAM (will only be running it at 1600 as that is more than fast enough.
Kingston HyperX 120GB SSD for O/S drive
One Seagate 3TB 7200RPM drive
Five Toshiba 3TB 7200RPM drives
Corsair power supply with more juice than I need
LG Blu-Ray reader/DVD writer
Running Microsoft Home Server 2011
Will use FlexRAID for raiding and pooling of the six 3TB drives
Oh, and 1 free Intel 4th Gen T-Shirt
That is way more power and storage than I need for a server, but it should last a long time. I wanted the option of transcoding ripped blu-ray movies (from my collection of purchased blu-rays of course) on the fly and streaming them to any wireless device in the house, or over the internet while traveling, etc. The transcoding will reduce the quality if the link isn't fast enough to handle the full HD stream (which unless hard wired, probably won't be) to save on bandwidth and to make sure that the viewing device gets enough data to not stop and buffer every 5 seconds. Plus, most portable devices need nowhere near full uncompressed HD quality.
Once I get it up and running and populated with media, I will look at building up a primary HTPC for the theater. Other parts of the house will probably get a small Raspberry Pi "HTPC" for about $70 each once I factor in a cheap wireless keyboard/mouse for each one.