My thoughts exactly. Are you planning on blogging about your Raspberry Pi media player adventures when these things are finally released? I'd definitely be interested - huge potential here.
It could almost be a business venture, given the fact that an off the shelf media product is upwards of $100 here in aus, if you could create a decent linux media center experience for the device, and a nice case, you could flog it for waves hand about $80 per unit and be ahead (provided the mark-up took into consideration all your costs).
Would fly in the face of the educational/not-for-profit Raspberry Inc though.
I'll find somewhere to write about it though.
The initial 10k batch may be another matter. They are looking at putting a per buyer limit since demand will be so great.