I would. I already have replaced DVD players with computers in every room. I recently bought a small Dell Studio Hybrid for this very purpose. I'm still on the "lookout" for a couple of cheap, low-power computers for playing media off a NAS, and watching Netflix on-demand movies.
That being said, for the decor-appropriate, TV-attached PC market, I think there are a things that MC should address:
1. Kiosk adaptation of theater mode: Have a theater mode that runs from startup to shutdown, requiring a password to be disabled. Correct me if I'm wrong, but right now, you can't shut down Windows from inside of MC theater mode (like you can in XBMC or WMC) or start up MC in theater mode when Windows starts. A specialized internet/media PC ought to take over the user experience, and reduce the need to do anything in the Windows shell or IE.
2. Plugins for major online video vendors (e.g., Netflix.com), and a fully-functional browser control/plugin for theater/kiosk mode: Right now, I have to close MC theater mode and bring up IE if I want to watch anything on Netflix or Gootube.
3. Improved support for video libraries. I've experienced a fair amount of flakiness with playback of my video library through MC 12, and judging from this forum, I'm not the only one. In the future, I think more people will be wanting to stream movies from a central DAS or NAS and the media center application that offers the best searching, sorting, and playback of videos is going to take the lead. MC's "configurability" is admirable, but MC also needs a "simple" mode that reduces the need for the user to visit this forum and figure out how to get things working that "just work" in other applications.