CPU motherboard question for Home Theater PC?

I am building a computer for general use and would like to later use the cpu and motherboard for a home theater pc/ media center pc. everything intel 1155. i would like to buy a GIGABYTE GA-H61MA-D3V motherboard for 60 on newegg and pair it with a Intel Celeron G530 Sandy Bridge 2.4GHz for $50. i will buy 2x4gb memory for 40 and a nice midtower case and a midrange psu. i would like to put it together and as i purchase upgrade parts i will be using the older parts in the htpc. i will take the micro atx board with the cpu and ram and power supply, pair it with a video card and drop everything into a htpc case. the tower case will house the better parts i will buy, a better mother board and an i3 to i7 that i can afford at that time. my question is will the celeron processor be a decent choice for an htpc when paired with a video card? i plan on being able to play MKV's and mp4's blu-rays and just about anything that comes out in the next few years without problems.the mother seems decent, max 16gb memory, usb 3.0 sata. 6. 1 PCI Express 3.0 x16 and 3 pcie slots. will need a sound card for 7.1 audio. i could spend an extra 15 to buy a pentium cpu if necessary. please no dummies telling me to just spend an extra 700 bucks for an i7 system- obviously money is a factor. i already have a 1tb 7200 seagate hd i pulled from my an external HD. i think my plan sounds good. low initial cash layout, i start with a decent cpu that i can go upgrading at my own pace, i will end up with 2 nice computers and since the motherboard supports celeron through i7 i can upgrade as needed. thanks for any help