Roy - few things to consider mate as I have a new style mac mini and that same keyboard/pad/magicwand setup in my home office
The batteries don't particularly last a long time - so you'll need to keep some recharged ones on stand by
Also you can't "click" the magic pad at all unless it's on a hard surface - so coffee table would be fine but on your knee would drive you mad. It bugs me because I have a sofa in my office and planned to sit on that with the keyboard on my knee when my back started hurting on the chair - but you can't click the damn thing lol
That being said though - it's a superb solution if you ever fancy a bit of browsing on your tv. The new mac mini's can connect with hdmi which means all your audio and video in one connection. The older mac mini's if you get a 2nd hand one you might have to run a vga and headphone cable - but that will only give you stereo sound
What I have is a mac mini in my office, iTunes library is on a NAS drive next to the router in a spare room. I rip all DVD's and downloads into mp4 format and add to iTunes.
Then I have an ATV on my TV downstairs.
I'm moving to a new house in a few weeks with a living room and a games room - so will put an ATV in both rooms.
The ATV is actually quite good since it got upgraded - you've got youtube, vimeo, netflix, etc.. etc.. on there now - might be worth a look if you're bothered about noise - though I used my mac mini in the living room for 6 months and the fans never kicked in once