I've basically been using my MBA as a media server for the past two years and it's taken it's toll. I'm looking to get a replacement that will play movies and a couple of modest games, while hooked up to a few HDs.
I'm deliberating between an Apple TV or a Mac mini, but really I have to wait until they both get refreshed.
I've done most of the above. Cut the cord over 10 years ago, starting with a powerbook g4 hooked up to a small tv. Biggest challenge was keeping the PB cool (no fan) during extended play, even DVD res was a challenge. Changed the PB to an iMac, then to a 2010 mini + Samsung which I'm still running today. I added ATV for exclusive apps/content but spend most evenings with only the mini. Won't likely replace the mini (which now has an SSD) until 4k is predominant.