CS looks very neat, but if Apple don't either buy ElGato or provide a way to integrate live / recorded / scheled TV into FrontRow they've kinda missed the point of a Media Centre app.... unless of course FrontRow 2 will follow as quickly as iTunes 6 followed 5 !
I have a Windows MCE machine and the only reason I went that way rather than trying to cobble together a Mac solution was [a] it existed and [b] it was extensible.... I now have a DigitalTV centre that lets me watch live, record, pause (and all the other good stuff) as well as access physical DVDs as well as archived, manage music and stored video (Xvid, AVI etc) and plug-in things like a weather forecast (automatically shows me the coming weather each morning as I watch the breakfast news while I get ready for work)
I think FrontRow could well be awesome but it's no reason to get a new iMac right at the moment (the MCE box lets me output to my 42" Plasma as well....)
If there was an API or some indication of extensibility (or an ElGato integration) then perhaps I could see the point... as it is... my PowerBook will soldier on in the den out of sight, and my MCE machine will rule the living room