Anyone using Steam game streaming?

[Hemi-Cuda]

So with the Steam boxes still nowhere in sight I'm thinking about getting a small PC to toss in the living room that can stream games from my desktop PC. Anyone here doing something similar and can recommend specs to shoot for? I know the client box doesn't need to be very powerful, but I want to know just how cheap I can go before you start to see performance issues. Also something small that looks good in the living room is a plus

[cDnStealth]

Maybe try digging through here:
http://steamcommunity.com/groups/homestream/discussions#

I was interested in trying out the in-home streaming but it was much cheaper for me to run a 25ft HDMI cable from my PC to the TV. Isn't the Alienware Alpha released? I thought that was an unofficial "steam machine."