My (long) two cents:
Like most others mentioned, I wouldn't focus too much on disc media unless you absolutely need it. SD cards and the like are the darlings now. Case in point, I threw out a bunch of burned CDs from the vehicle back when I got an SD card stereo and I will never look back! I've put a few hundred songs on a 4 gig card and only used half the capacity. Having disc media binders here, spindles there, jewel cases here, a wayward loose disc there, was getting real old. Now, outside of the remaining DVD movies I have, all my files are done via SD cards/usb drives or those small usb-powered external drives.
I would say, if you've already made the transition to HDTV, and the budget can swing it, go get a netbook and a desktop tower, hands down.
But just the tower.
Throw out the desk, monitor and chair you may have around, then hook up the tower to your LCD TV. I just done that very thing recently with a tower I had. Couple it with a wireless mouse and keyboard then you can do PC duties from the comfort of a couch or plush recliner like I'm currently posting from.
People will say just use a laptop instead and do that. but trust me I have a netbook and it's just not the same. The keyboard weighs nothing in comparison and the fear of spilling something into the laptop or dropping the screen while relaxing isn't there. The mouse works just by gliding on the arm of the chair. (heck, works on your stomach too if so inclined. lol)
Not to mention you've just made yourself an oh-so-comfortable workstation, that also happens to now double as a media center to play media from DVDs/usb drives/sd cards/external drives to be viewed on your TV. The same goes for streaming videos from Hulu, music from places like Shoutcast, etc. Between all of that you have an almost limitless choice of entertainment. You also can scrap the standalone DVD players and such. I have a pair of PC speakers with subwoofer just laying around that I hooked up to the TV, works marvelous. Infact I was happy enough with its sound that I won't be bothering with a speaker/receiver setup.
So yeah, I say go for the two-prong solution of a netbook for travel and a tower/LCD TV for home.