Help with iTunes server for BD files

Hi all. I'm finally going to start ripping all of my BD discs (250 or so) to my iTunes server for playback on my 4 ATVs. Two of my displays are still 720p but they are excellent 720 displays and not getting updated any time soon. Even though some of the purists here are going to cringe, I wish to encode the BDs to 720p.......the reasoning being the smaller file size and two of the ATVs are wireless. I want to be able stream the BD files to all of the ATVs reliably and none of the displays are close/critical view distances so discerning between 720 and 1080 isn't that easy anyway.

Now after researching the topic on the Handbrake forums, i've created the optimal preset for my needs BUT the encode times are just waaaay to long at over 9hrs for a 2hr movie. I think it's time for a new ITunes server build. My question is what processor would make quick work of these encodes but not break the bank. I'll be building from ground up and don't need any special graphics on the PC itself as I don't watch movies on my PC. On board intel 3000 should be more than enough. Small form factor isn't an issue either as I have a nice Mid tower case. My other needs for this PC is a good optical out for critical 2 channel audio listening.......I do this almost exclusively at my desk. I do also work from home from time to time using Photoshop for marketing and Excell for accounting. So some recommendations for components would be very helpful. Please consider the critical audio part.......less noise the better. I use a high quality optical cable to send feed audio so Interference isn't an issue here but jitter on the PC side is. Thanx .

Quiet will do.......silent is neccessary. The machine will be under the desk so top and rear fans won't be audible. I've read Handbrake posts where people are encoding in 3-4 hrs. That's doable for me with two encodes while I sleep.

I won't be upgrading those displays as their bedroom screens at 50" and 12ft viewing distance. We don't watch too much TV in bed.

The HT is 110" 1080p and that room gets dedicated BD player so networked viewing is for standard def DVDs and network content.

I also don't need HD audio in any of the other zones. They're mid level systems that HD audio won't be discernible from DD and they're only 5.1 systems. I've thought over my needs very carefully. Encode speeds and quality are my only concern. IMO encoding everything to one format stored on one server with careful Cataloging and Metadata is the right way to do it. My sizable DVD collection is already done this way and works very well with a user friendly GUI and extreme reliability.

As to your previous post....my network is all apple with a huge music collection and three more audio only zones. We also are iPhone and iPad owners and the control these devices offer as well as AirPlay is unparalleled in the affordable,reliable streaming market.

Since the release of the ATV3, the Hanbrake community has worked tirelessly to develop the ideal presets for encoding at 1080 and 720. In other words, they encodes are excellent.