I do not need another PC hence though i would like an HTPC i cannot go that route just for music.
@magma, @anm & @all - I know where you guys are coming from and while it might not seem like a good idea right now to setup/assemble a PC just to play music let me assure you it will not be the case always. With a PC you just need internet and you'll have the world at your fingertips (not to mention HiFiVision). Cost wise a PC is cheaper to assemble than a decent stereo rig and let me tell you it will blast all CDP/stereo rigs right out of the water, that's how good a PC sounds. It will be a one time investment, a good soundcard will last for years and ditto for other h/w and peripherals on the PC. All you'll be looking to upgrade periodically will be the HDD (depending on how much music/movies/content you have on hand) which is quite cheap comparatively. In the long run the PC will also handle all video content especially the HD variety so it will become the entertainment hub/center of the home. Nowhere else will you be able to assemble a top of the line product for 25-30K, not in a HT system and for a stereo rig it will cost a min of 80K to over 1 lac even for a starting decent rig and the PC with the right soundcard and h/w will simply blow them away in terms of what you'll hear from the PC. I know I sound biased but one thing I know (if nothing else) is music. I've been listening to music from even before I could walk (since my dad was a DIY enthusiast) and we always had a good to great music setup at home. I've been there and done that, traveled a lot and heard a lot of music rigs, but I will admit that I'm hearing new sounds on the PC these days and for a fraction of the cost I have a machine that simply blows everything else away. Factor in the cost of a good PC and the right soundcard at 30-35K max and Audioengine A5 at 20K max (all prices on the higher side and in actual will be lower) and you will have a machine that will beat everything else at many times its cost. Yet this beast of a machine will not need servicing, will run for 24 hours a day and for months on end, will not need new parts, need no upgrades, all s/w and everything else will be free and available on the internet and will do just about everything.
For instance I've started ripping Blu-Ray DVDs these days. In my circle I have so many TVs all with different screen ratios - PV8 a 42" Plasma, a 32" LCD, a Full HD Plasma 50", a 29" CRT, a couple of 21" CRTs and yet making different screen aspect/ratio HD rips for each TV screen is a cinch with the PC. Where else can you even begin to think of doing such things. Yet with a PC at home sooner than later you will start doing such things.
Take or at least consider my word. A Beresford, WDTV, etc. should be additions to your entertainment devices and not the mainstay. Invest wisely instead on a PC, it will be a one time investment for years and yet deliver much, much more for years on end.
Hopefully, I've not bored you all to death... but this is definitely more than my 2 cents!!!