Recommend card for gaming/htpc

I'm putting together a system which will connect to my HDTV and
be both my htpc (i.e. play divx files) and my gaming system. The
things I'm looking for are:

cost <=$150
quiet - doesn't have to be silent, but pretty quiet
graphics - doesn't have to be cutting edge, but should play latest games
at medium settings, at least as good as a current-gen console
bluray support- I may some day want to add a bluray player

Any suggestions? Also, a few questions:

Since I'll only be playing games on my HDTV which is 720p/1080i, am
I correct in thinking I don't need as much graphics horsepower due
to the lack of resolution?

What do I need to connect a bluray player? Is HDCP support required?

Am I better off getting a quiet card, or getting a stock card and
adding an aftermarket fan like a Zalman?

Thanks!