OK, I got my $110 barebone Foxconn PC and added some leftover RAM I had lying around. Since it came with a free 64GB SSD, all I needed to do was install an OS.
I elected to install OpenELEC (http://openelec.tv).
OpenELEC is a small embedded linux distro running XMBC.
There is a specific AMD Fusion build so I installed it via USB. You can also boot off the sdcard if you are inclined to install on a leftover sd card lying around.
It works great. I plugged in a USB 3 drive formatted exFAT and played a 1080p blu-ray rip and it worked. I thought there would be stuttering but it handles h.264 just fine. I have not tried MKV but WMV, FLV and 720p AVIs play fine.
I should have ordered another one. It is so small and handy to play with.