Specification Notes:  To provide the most accurate specifications, the specifications listed are based upon the manufacturer's exact model specification as published on the manufacturer's website, and the manufacturer's product documentation.
hmm what OP wants is essentially an HTPC connected to home tv while downloaded shows.
you can achieve a better/cheaper/newer system with that 500 dollars which you'd spend on that HP crappo.
consider this since you'd be downloading episodes/shows and movies through that machine;
* a laptop/notebook is designed to run for 8 hours(considering its the office hours)
multiply 8 hours by the working days
multiply that for a month i.e; 30 days
then try multiplying that number for 12 months and then you'll get a rough estimate of how long the laptop/notebook would be running for a year.
a desktop however is designed to run 24/7 for a long time.
they are built with sturdier material and can handle more stress - add an after market cooler and you have a quiet system.