(UK) Apple TV 1 vs. Apple TV 2 vs. budget HTPC

In desperate need of a HTPC ASAP. I'm leaving the family home for uni and want to leave them with a HTPC which they've become used to.

I already have an old gaming PC converted to a NAS server for them. All I need is the player. I can't shell out more than 150, preferably less which sadly rules out the Zotac ND unless someone has a cheapish link.

1) Apple TV + Crystal HD
2) Apple TV 2
3) Custom build HTPC (?)

Their needs are simple:
1) Aeon Nox Menu
2) 720p HD Content, MKV container most of the time, MKV animes

Not sure about the skin requirement but 720p content works no problem on ATV2, so personally would go for that as it's cheap and fairly simple to set up.