i've had myself a C-50 fusion netbook for almost 2 years now (not sure how much better this C-70 would be). in spite of the horribly underpowered CPU, it's been a handy little machine and can easily handle blu-ray bitrate 1080p video.
so yes, this nanoPC here would be a great HTPC if all you're planning on using it for is watching movies or typing emails, but don't expect to game with it or have a completely smooth browsing experience.