Is there a cheaper way to do this?

So putting a DVD into a slot and "moving" the information to a hard drive is called ripping, not downloading.
This actually may be a better deal because I don't know much at all about computer machines.
If it is video/audio then yes, if not, it would be called uploading technically, as I'm pretty sure 'downloading' implies that the source is much more extensive or bigger than the reciever, such as when you download/upload to the internet. The 'down' part is when its coming from the huge source, the 'up' part is when its coming from the smaller source (your computer)

 
You could build a computer to do all that for a hell of a lot less money.
this
You can build a computer to do that for cheap
this again
Building a computer would require mouse and keyboard in the living room?
Mostly you will use a WMC remote, just like you would TV. You can store the mouse and KB away after setting it up and bring them out when you want to use it as a PC.
THIS IS WHERE I GET GIDDY!!

You can build a computer then download an O/S called MythBuntu. It's basically a free version of Windows Media player except it's Linux-based... but severely user friendly.

The only thing you'd need to do is get a controller / Infared receiver for your PC.

My phone (iPhone) has an app that lets me control MythBuntu from it. So if you have an iPhone, you can do that.

MythBuntu boots up right into the 'Myth' part, which is Windows Media Center on crack. Much better put together IMO.

Just get together a POS computer and you should be fine.

Or I'll sell you mine for $500 //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif
This will work too.

 
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