Its not quite as small as a Mac Mini, and the pricing on a Mac Mini might be a bit more convenient too. The NOVA P22 is a 2-liter PC weighing in at 1.78 kilos.
It has a Core 2 Duo E6320, a gig of RAM, a 160GB HDD, and a DVD burner. It also appears to come with a media center remote signifying a possible TV tuner, and since it comes with Windows Vista, its probably Vista Home Premium or Ultimate to make use of the Media Center app.
The PC also has Bluetooth and Dolby Digital Live audio technology, which means it should be a great fit for your home theater set up. On a side note, at the same time as this announcement, they announced a Pink Asus Eee PC for sale in Taiwan. The Nova will cost you a hard-to-swallow $1020 USD if/when it lands stateside.
Asus Nova P22, Small but still not like an Mac Mini, and Pink EEE [via akihabaranews]