pls recommend cheap NAS 2 bays for storage only.
I always keep my stuff in duplicates and it is very troublesome so i thought NAS might be a good solution.

I assume the N230 is more or less same with the N36L processor. On the N36L my CPU usage is average 70% while downloading with utorrent & jdownloader. Still manage to surf the web smoothly.
But while extracting some LARGE files (>5Gb) the usage is 100% and everything is lag. I have 4GB on it and i think you should add more ram to run Win Server 2008 R2. The 1GB is sure not enough.

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Added on September 8, 2012, 2:26 pm

The codec processing happens on your TV. If all your files are dvix or rmvb i think the TV should be no problem handle it. But with MKV, TS, ISO, BDMV, with some trueHD audio then you will need a dedicated htpc/media player to process all the codecs.

I have 1 HiMedia player in my parents bedroom and it works awesome as a media player with modded firmware. Create a nice catalogue with all my NAS media files and able to handle all kinds of format. Stream China shows perfectly and sometimes can watch EPL live   (work few months in China that time and this model sell like hotcakes at the mainland)

If you looking to get the best picture quality then i would suggest the ultimate solution:
HTPC + XBMC + MPC-HC +madVR + LAV 
I think you will eventually come to this solution if you enjoy the HD experiece 

Yes you can. but make sure your HTPC is on gigabit LAN and got enough sata port to become a NAS.
Just like my signature the asus H67-I mb got 6 sata port and my Q25 casing can fit up to 8 hdd and the size just fit nicely next to my 50" plasma

Power consumption
1. HTPC with i3 2100 processor will consume around 80W-120W.

2. N36L(NAS) around 50W-60W max + Media Player 8W-10W