That depends on what you consider to be little effort.
If you're looking for a one button solution to all your media needs, you're not going to find it.
That said, it is my opinion, and just about everyone else around these forums as well I'm sure, that MC will get you where you want to go. It may take a little bit of tinkering on some levels, more on some than others. However, the end product will be a home media system that you can all use.
Starting here in the forums was the best first step you can make. This place has been a wealth of information for myself and many other users here. The best part about MC is its devolpers and user community. Don't get me wrong, MC is an exceptional program, but I probably wouldn't like it near as much if it didnt have the developer and community support that it has.
So to answer your question: Yes, MC will do what you want, but you will have to work at it a little bit. However, anytime you hit a wall, you can post your questions here, and chances are youll be moving on a matter of minutes.
So, make your voice heard, we'll all do what we can to help out.
Anyone else want to chime in here. Im starting to sound like I'm on J River's payroll..