For out of the box support for multimedia, your best option is PC-BSD 7.1 or higher. It has multimedia codecs built in and media players that will handle any format.
The second choice would be OpenSolaris. You can buy the codecs from Fluendo and have them install automatically.
Playback on both PC-BSD and OpenSolaris with a Nvidia video card is very high quality. ATI cards are less well supported but the open source drivers works well for video playback. There is just less eye candy.
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Switcher Multimedia Computer Integrated Amplifier can handle that.
The main thing you want in a multimedia computer is a low signal to noise ratio.So it's best to have a computer that doesn't need loud cooling fans.So if you can get an easy to cool system that's the best option.
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Speed and size are the best friends of multimedia. You will want a 7200 rpm hard drive and the largest size (GBs) drive you can afford. If you want an external drive and have a FireWire connection on your computer, that is much more preferrable than USB due to its speed.
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Flexibility would involve the number of things you can do with a computer. While some are best used for simple business tasks, and simple categorizing and filing sort of tasks, others are good for multimedia, gaming, and so on.
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There are many places where one can purchase multimedia storage. One looking to purchase multimedia storage should visit on the web sources such as Best Buy, Amazon, Target, and Overstock.
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