This may or may not work for you but this guy I know has a PC dedicated to his A/V system. It's an XP 1800+ UNDERCLOCKED to something like 1ghz. This took enough pressure off the cooling system to make it pretty darn close to silent.
If I recall, it has a 120mm fan on the front intake, running pretty slowly mind you and a 80 on the back, also running quite low RPM. This is enough to keep things all ship shape and quiet enough so he can have it sercing content to his AV stuff in the same room.
Cool eh?
Of course if you dont want to lose that much power then water cooling might be another option. I dunno much 'bout that tho.