I installed one of these for a friend a few weeks ago. the Dell Psy Ops dept keep seeming to fiddle the price in various adverts by changing components and if you buy over the phone, prepare for something approaching an Indian hard sell. (Make a note of desired spec before Rajish gets your arm behind your back)
In operation, it looks ok, but did give a bit of a headache with McAfee on this particular machine. The sensible upgrades to look at might be memory, hard drive, video card if gaming (the default was onboard I think) and the 19 inch monitor which looks quite reasonable. It also came with a TV card and remote control bundled, but we left that in the box. All in all, it isn't bad in my estimation, apart from the delightful Media Center OS.
Conan