timhanna:What do you guys think, which is the ultimate solution? I just want it for Music (priority) and photos.
I wouldn't use the PS3 as a media center. I tried this and it just doesn't seem to work properly. Movies aren't compatible with the supplied codecs and need to be converted. Some MP3s would play and others were 'incompatible' for whatever reason. I couldn't be bothered to find out as I'd already spent enough time trying to figure it all out.
Mac Mini is a decent solution. Better still, you could install Windows on it and use that media solution, if you don't like the Mac OS X options. It's really quiet, far quieter than my Time Capsule, and is on 24 hours/day.
Bear in mind that the BM5 is just a computer, with a hard drive and cooling system. Absolutely no difference between this and a Mac Mini - both have to be connected to input devices and a screen.