There are so many different configurations, there is no "best" way of setting up a home theater pc.
Depending on how fast your wireless network is however, I'd be leery of streaming 1080p over wireless. Maybe I'm just behind the times though.
I suggest doing a lot of reading at AVSforum: http://www.avsforum.com/f/26/home-theater-computers
And this is a blog I've seen recommended there: http://assassinhtpcblog.com/welcome/