Please rate this HTPC for a newbie

Below are the basic specs for this custom HTPC.
Is this worth $450 for a newbie to get started with?
My goals are to be able to pause/record OTA, stream Netflix, Hulu etc., surf the web, and play BD/DVD's.

+ Windows 7 Professional 64bit
+ AMD Athlon II X2 240 Regor 2.8GHz Socket AM3 65W Dual-Core Processor
+ ASUS M4A785TD-V EVO AM3 AMD 785G HDMI ATX AMD Motherboard
+ATI Radeon HD 4200 video card SidePort Memory - onboard 128MB DDR3 1333
+ Audio Chipset - VIA VT1708S
Audio Channels - 8 Channels
+ A-DATA Gaming Series 4GB (2 x 2GB) 240-Pin DDR3 SDRAM DDR3 1600 (PC3 12800)
+ Seagate Barracuda 7200.12 ST3750528AS 750GB 7200 RPM 32MB Cache SATA 3.0Gb/s 3.5" Internal Hard Drive
+ OCZ Fatal1ty OCZ550FTY 550W ATX12V v2.2 / EPS12V
SLI Ready 80 PLUS Certified Modular Active PFC Power Supply
+ LG Black 8X BD-ROM 16X DVD-ROM 40X CD-ROM SATA Internal
Combo LG Blu-ray Reader & 16X LightScribe DVD?R DVD Burner
+ Thermaltake media remote control

Thanks for the prompt reply CajunCanuck.

The deal with this rig is that it is already built and ready to go as-is.
I can demo it all because it is nearby. My needs are not high-end and I was hoping some of you experts could weigh in whether this is worth the $$ or not.

So far, it seems OK. I do apologize for any ignorance I display, but won't I also need a TV tuner for this baby to get my basic OTA signals?

This rig also comes with Windows 7 Pro 64-bit and WMC and Cyberlink PowerDVD 10 Ultimate 3d.

Thanks again!!