Anytime you're trying to silence a pc, you have to look at the case first.
Thin aluminum and/or steel cases will resonate and echo everything that is bolted directly to them, including DVD drives, motherboard component fans, CPU fans, etc. It's best to go with a real HTPC case, plastic if you can get one, as they are quieter than a steel box. If you can't, then you go with quieter fans and see how many places you can use rubber and silicon grommets to isolate components. Case fans can often be mounted on rubber shafts designed specifically for this purpose, and the Antec cases generally include these starting with the Sonata series.
Even if your hard drives mount directly in a cage, you can put silicon grommets/washers just under the heads of the screws that hold the HD in the cage. Products like this one
http://www.acoustiproducts.com/en/ultra ... mounts.asp come in handy. Check their site and others for more grommets.
www.silentpcreview.com is another good resource.
If you really want to get anal, you can use sound deadening materials inside the case itself. Car manufacturers and high end car audio shops have been using Dynamat and other tar paper-type materials for years. Dynamat has a sticky backing, can be cut to fit case panels, and generally does a wonderful job but it comes at a price.
Further down the chain, some motherboards include tiny high-speed fans on the north and southbridge chips that love to make noise. Depending on the model, some of these are better replaced with high quality tall heat sinks instead. Zalman and others make chipset-specific replacements that do an equally good job at evacuating heat without the noise.
The CPU fan is pretty critical as well. Again, Zalman and others make big heat sinks with large, slowly rotating fans that help eliminate noise. Next take a good look at your video card. Most have small, fast fans that are usually noisy. Your best bet it to go with a passively-cooled video card with just a heat sink on it. It's a compromise, as the passive cards tend to be 'weaker' than actively-cooled cards, but you're only doing 2D most of the time with a MythTV box so you can afford to make the compromise. If you can't, again, look for a replacement passive cooling heatsink to replace the noisy fan.
That about eliminates everything. If you're really hardcore you can watercool your system. That brings it all down to a single 120mm fan on an external (or internal) radiator if you put the CPU and video card and possibly motherboard chips in the cooling loop. Generally the radiator fans have speed control knobs you can crank down to silent mode..but I wouldn't recommend doing this myself. Reason being that hot running hard drives and optical drives appreciate some air moving over them from the front to the rear of the case.