That's exactly how I was looking at it.
I just got my CPU and MB. Same ones I posted before. i5 2500K and a Gigabyte Z68 MB. I know the i5 is overkill for a htpc but I like having the option to play games if I want to. I also only spent $30 more than I would have going with the i3 so it was an easy choice. I actually ended up getting a different case.
Same price as the other one I posted but the front looks better to me. I went ahead and snagged 8GB of RAM for $35 as well.
I ended up spending $337 out of pocket for everything I got today, not including the two $10 mail in rebates I have. I already have a 60GB SSD and a 1TB for storage. I'm also just using a cheap power supply a buddy gave me until I can get a better one next week. The only other thing I need is a Blu-Ray drive. Might swing by Fry's later today to see if they have any deals on em.
About to start building it shortly.