what linux distro are you planning on using?

Pentiums are suppost to be better for encoding, so I get around a 3.4ghz or 3.2
gig of ram, dual channel, so a mobo that supports this.., if you want it small get as much onboard stuff as possible, like ethernet, ect.
almost any video will do.., I'd get something in the fx5500 or 9600 area, or maybe onboard
I like Lite-On optical drives.., 16x dual layer burner
I have no experiance with tv tuners.., you may need to get two in order to record two at a time..,
M-audio sound card, maybe onboard..

what TV will this be running on, is HDTV?