HTPC with Satellite tv on a budget

hi guys
i'm trying to put together a quiet HTPC for my dad that's quiet, looks good and just works.
We use Freesat and we want to be able to watch one channel and record another
internal storage is not important so a small capacity ssd would be better to be honest. we have a NAS with 1.5TB for storage.
the tough bit is that it has to be as quiet as possible and it has to be built on a budget.
Sound will be done through the TV's speakers but if the Mobo has an SPDIF out, it would be good for future potential upgrades.
the system i put together on scan was approaching 500 quid and it wasn't even finished before i stopped!

EDIT
Having Blueray would be nice but not a must as we already have one. having one box on the counter instead of 2 is always preferential though

Should come in around 430GBP or less.

It's completely fanless.

Intel? SSD 330 Series 60GB
Streacom FC8B EVO Black (Can have issues with some motherboards for the passive CPU cooling solution, buy the optional spacer to get around this.)
Streacom NANO150 PSU*** (Can be gotten cheaper elsewhere, since you don't need all the 150W, check out Mini-ITX specialized pages. 65-90W PSU should be plenty)
MSI H61I-E35 (B3), Socket-1155 (It has an SPDIF connector on the mother board that you can get a kit for.)
Corsair XMS3 DDR3 1600MHz 4GB CL9 (Given the placement of the PSU on the ATX there is no room for dual-channel RAM. Which is not even relevant on a HTPC imho)
Intel Core i3-3220T Processor (Or buy a regular one and underclock.)
Streacom ST-OB2 DVD?RW/Blu-Ray Reader (50GBP here alone, and these are much more noisy than the "regular stand alone"-ones that you already have, I would drop this to be honest.)

***http://www.itx-warehouse.co.uk/Produ...ProductID=1298
80W version for not much cash, and I bet you can find a 12V brick somewhere with 60-90W of punch. Either from the same site or probably at home ;)