Is 4-4-4 for text reading purposes? I'm not sure exactly what the purpose is. If he's looking to use his PC as a HTPC it may not even be important.
I've built a couple of HTPCs, and they are just older desktops with a dual core processor. Even old Athlon x2s work great. If it's a recent PC (within 3 years) then the onboard chipset is fine for 1080 movies, if it's a older PC you may need to buy a video card to do HD/bluray movies. A cheap Radeon 4250/5250 for 20-30 works well.
For mouse/KB as someone else said you only get range from Bluetooth. Personally I just use a Microsoft 5000 mouse, and use the onscreen keyboard built in Windows 7. I rarely type on the HTPC though, so no need.
Anyways the result is great. I use mine for BR/1080/Youtube content, and it looks fantastic. My sister just does Netflix and Youtube here and there and she loves it.