I've read a lot of discussion on video cards. However that board has HDMI on it. Do you have any issues with lag or anything? We only have a 1080p tv.
If you use the Red October Standard setting in JRiver's video settings (which is the default), you should have no problems with video output on any modern integrated graphics chip. I've used it without tearing or lag with the integrated graphics on a cheapy 1037U celeron from a few years back.
If you want to use Red October HQ, you'll need a discrete video card or potentially some of the higher end integrated graphics (like the one's that come bundled with newer i5 and i7 Core chips) depending on the settings you want to use with it.
If you're mostly watching Movie Blu Ray's on a 1080p screen, the picture quality difference between RO Standard and RO HQ is not (IMO) that big. If you're upscaling (because you're watching DVDs or other SD content) or deinterlacing (because you're watching television shows), the difference is more visible.
I personally use RO HQ because my HTPCs are also used for video games, so I already have the video card installed; RO HQ comes "free" for me. RO Standard is very good though, and if I were setting up a system tomorrow as a dedicated HTPC on a 1080p screen, I might just use the integrated graphics with RO Standard.
People have different views, and I'm sure the size of the screen also figures into how obvious the differences are; hope this helps.