Digital Movie Storage

Hello, A newbie I am. I am attempting to learn about how to inexpensively build/buy a system that comes close to doing what the "Kaleidescape ™* system does.
I want to get digital copies of my DVD and CD collection on to a server that I can search and retrieve for viewing/listening. The Video out would be HDMI to my HDMI 1080p projector and the sound would feed a 7.1 Yamaha Receiver.
Can you point me to the best forum to learn more about my options?

You would start with this, all in one, MOBO.

Video Ports D-Sub + DVI
USB 4 x USB 2.0
IEEE 1394 1 x IEEE 1394a
eSATA 1 x eSATA 3Gb/s
S/PDIF Out 1x Optical
Audio Ports 6 Ports

Onboard Video
Onboard Video Chipset ATI Radeon HD 3200
Onboard Audio
Audio Chipset Realtek ALC889A
Audio Channels 8 Channels

And this cpu.

Great, Thanks!
Any recommendations on software to do the sorting, viewing etc?