It could also be not only about pure speed - look at what even the RPi 1 can do in terms of media playback. My (working) Centrino laptop can just barely play yo

It could also be not only about pure speed - look at what even the RPi 1 can do in terms of media playback. My (working) Centrino laptop can just barely play youtube html 5 videos. If you want a small mediaplayer (remember those portable DVD players? :P) this sounds totally viable.