Up scaling should be good, can do 1080p VGA and HDMI, only 1080i over component). No chance of Blu-ray drive, but if think there is a way to stream them using the My Movies app on your PC.
Also, if you have a TV card in your PC, you can use that to through the XBOX.
It's between MS and Sony, and Sony aren't going to do that as they are competitors.
As for Media Centre, may as well not use it I find as it is slow and annoying on the 360 (on the blade dash), just tell WMP11 to share your music, video and pictures and then go to the media section on the dash (not sure what it's like on the new dash) and play any/all of your content. Your PC only needs to be on and it'll run fine.
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