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In case anyone's interested, I retasked this hackintosh and have built a new one around the HD3000 chipset on a mini-ITX board (GIGABYTE GA-H67N-USB3-B3) using a quad-core i5-2405s low-power (65w) cpu. I reused my IR board and put in 8 gb of RAM (way overkill) and added an Airport card via a PCI-e to mini-PCI-e card adapter. This computer is super fast and is virtually silent with the stock fan and one chassis fan (Scythe). It transcodes EyeTV recordings at about 2x speed. Running Lion 10.7.2 and using an HDMI to DVI adapter for my Sanyo 1080p projector and optical audio to my Onkyo 5.1 DTS/Dolby Digital receiver. It's made Plex very happy and all for about $550. :)

Nice update Caveman, I've just built the same system and its on my desk being tweaked/tested before being installed into the entertainment center. I was able to use my app store purchased lion to install on the box via usb drive, and I had the case and drives so the build was pretty cheap. (around 240.00).
I,m hoping to get some decent life out of the hack but if not It will run win 7 and make some family member a nice little system.
 
Did you install an IR board or Airport card? Those make it really nice.
Are these used just for a remote control? I am going to use the iPad/iphone to control the hack. I just got in a cheap chinese bluetooth adapter. I havnt tried it with my tracpad and kbd yet
 
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