LIFO:
@DominionSeraph: Because for 200€ budget I was actually able to build a NEW computer. Already having HDD and RAM helped, but still...
@Everybody suggesting a notebook: The cheapest crap notebook over here is 300€ and those are all atoms. The first E-350 is 360€ and that one is still crap. Why would I buy a notebook just to get a MB with a really poor display attached?
@hoorah: I can't really complain over system responsiveness. Pretty much every time I have to wait, I wait for the disk. I suppose some windows readyboost flash would help a lot here, not to mention a proper SSD. However, after toying around with this baby I can't really say I can recommend it for HTPC use. It will skip frames while processing any interlaced material or any full HD material that can't be played through DXVA. It can however decode 720p in CPU with ~70% CPU usage. Internet surfing is responsive and quick, no complaints there, but flash video is again limited to 720p. All being said and done, I'm much happier with my choice of i3 2105 for my own HTPC.
@arkaign: AII 250 is currently in my main rig. This is by no means a baseline processor. It can decode anything in software as far as video is concerned. The only thing it can't do in software is good deinterlacing. It also plays pretty much any modern game just fine. I would sooner recommend it as a high-end HTPC processor, but it eats a bit too much. The folks advertizing Sandy power draw are right: these really are the better deal.
@sm625: MarkLuvsCS is right. We have 20% VAT here (and it's by far not the highest in the EU). HW prices in EUR are at least what you have in USD, usually even a bit higher + there are no sweet deals like over at your place. Nor are the AT giveaways available to us

I usually search for hardware through newegg because it has good filtering. After seeing those prices I get pretty pissed looking up the same HW over here because it's A LOT more expensive. This was even worse a short while ago when USD :EUR was 1,6:1.
Anyway, had some extra time today, so I went over to my uncle's. Compared to the Athlon 1800+@1,6GHz running WinXP (the old setup), E-350 running Win7 was way more responsive, even when I loaded it with like 5 file copies and multiple installs / configs.
Running MS Office Word / Excel 2010: 5 seconds first run after boot, 2-3 seconds after that. Outlook isn't worth mentioning, it just starts.
Starting up Firefox / IE: 2 - 5 seconds
Surfing the net: abysmal: uncle has a pathetic 1Mbit link

(note that this does not relate to zacate performance, surfing was great on my 10Mbit connection)
Active --> sleep: 4 seconds
sleep --> Active: 3 seconds
The biggest gripe I have with it is that sometimes it scribbles around on the disk and trying to run an app results in waiting. Usually the waits are around 10 seconds and are common enough for me to notice and get pissed over it. I would most definitely not ever run this setup without a SSD.
I also don't think it was wise to spend 150€ on the ASUS MB. I could've saved >40€ by choosing a cheaper one (and it would still have similar feature set). Such a purchase would not present me with any additional woes. I could've invested the difference in more RAM which would help a bit with system responsiveness.
I agree with Zap that having a Zacate @ AII 250 performance would absolutely rock in terms of having the CPU fall-back option / power. As it is, this setup will serve my uncle just fine. It's responsive enough and any work that needs be done on it can be served with minimal waiting compared to standard desktop processors of today.