Actually I have two HPEs with Core i7s. One at work (purchased in December with the first gen CPU) and one at home (a 510t purchased in April with the second gen 2600 CPU). Since I custom configured both they both have the same GPU (nvidia 420), same 7200 RPM HDD, and same 450 watt power supply. Didn't need blu-ray because I have an external eSATA blu-ray burner and neither has wireless (because gigabit wired is better and it's a desktop so it's not going anywhere).
I went with the nvidia card because I do a lot of video conversion and there's just more CUDA compatible software available than there is for the AMD GPUs. I'm sure that'll change before long. But for "right now" that's the way it is. As far as the 5400 RPM drive is concerned for conversion, it's a non-issue since even a slow drive can push data to memory faster than it can be transcoded.
With the factory 8 GB memory the systems were fast. Once I bumped that up to 16 GB and killed the virtual memory settings, both machines scream like scalded apes.
As far as blu-ray; both system playback fine with the bundled software (and I have a lot of blu-ray titles... mostly Asian dramas and Anime).
All-in-all, this isn't a bad price for what it offers. My December purchase was $1100 (after coupons and discounts) and my April purchase was $749.99. If you're a gamer, you'll probably want another GPU and power supply. While the 5400 RPM HDD could be a bottleneck, you can add a 7200 drive for minimal cost. But then if you're a gamer, you're probably better off looking at another unit.
If you're not a gamer and want a wickedly fast CPU and a chunk of memory, you'll have a hard time finding a better price for a machine you don't have to build yourself.
I've been in IT since '84 and have taught A+ and N+ courses. My first build was a 286 with a "whole" 1 MB (yes... megabyte, not gigabyte, that cost $100 for the memory) of RAM. I could build a system faster than this or either of the rigs I have. But I'm getting too darn old to be playing around under the hood when I can get one that's already got what I want.
PS: If ever I have more money than brains I'll buy a Mac Pro with dual six-cores and 64 GB of RAM. Until then I'll make do with my HPs.