Note that this would be mainly useful as a render system. It comes with a pretty crappy graphics card and a small power supply so it would not be easy to upgrade the graphics without also upgrading the PSU.
Here are some slightly more expensive but similar deals I found in researching further:
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=19568&CatId=4928 ($50 more, same specs, better graphics card, but no Bluray)
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=557085&CatId=4928 ($100 more, same specs, even better graphics than above, no Bluray)
Overall it still looks like a good deal, with the caveat that it would be for a render box (or if you just don't care about a decent graphics card, but remember it will affect object preview speed, especially for large populations).
Edit: this might also make a nice media player hooked up to your TV. Easily play 1080P video content, has a Bluray drive, lots of hard drive space for DVR stuff. Just need to add a TV tuner. Use it as a render box when not watching HD video.

- Oshyan