Personally I say go for it now, WMC in windows 7 is the best yet. I have been using WMC since the beginning and have loved it ever since, never looked back. I tested all the software out there over the years and nothing IMHO still comes close to the WAF of WMC.
Granted I do have a big wishlist like many others here, and I think windows 8 is where MS should have made a big change and push for WMC.... but they are disappointing a lot of people. With the new metro style and the sudden app craze they should have blended this in with WMC and let developers create these "apps" for WMC, so Hulu could have a direct app, Netflix, crackle, anyone.. hell even if you wanted angry birds or cut the rope in WMC playable with a remote... they should have done it it would have opened up a whole world. and while I like the current simplicity of the WMC interface I do think they could have blended it across platforms so the "metro" look in Windows 8 could be there, the Xbox, Windows phone, and WMC.
The big issue also is with providers like Dish and directv, no one wants their content pirated and that's all they are concerned about, they think that by preventing someone from DVRing movies from HBO and etc, king of thrones or Dexter on a PC they cant upload it to the net.... yet it still ends up there, they are fighting a losing battle. I know I got excited when there were plans for dish network to hook in to a WMC PC and allow you to directly get HD in WMC... but they pulled out last second and honestly lost me as a customer because of it.
Honestly though I'm perfectly content with my OTA cable and unencrypted channels, netflix and huge collection of movies (using my movies server and client to manage), not to mention I have the capability to playback blurays, DVDs, and just about anything I can throw at this thing, it's all in one box. Not to mention my HTPC is a full on gaming rig
so I can do it all in one box. My kids are happy with it, my fiance is happy with it and therefore I am happy with it
one box to rule them all
one box to find them (in the living room)
one box to bring them all (together)
and in the darkness (of the living room) bind them
lmao... my htpc, my precious