My media centre is a Athlon 200GE perfect for Blu-Ray etc. Super dooper all round and cost small. I'm sure Loongson will do well in the looooong run. But I have a special custom bios and if I want, I can clock the ass off my little 200GE from every angle. I don't think this Loongson will be competent against a 200GE set up like mine.

From what I recall, these are based on MIPS. The chip is so low wattage because it can barely do anything beyond pretty basic tasks. Perhaps the GPU will help with things like media transcoding but if you want an ultra low power system, you're better off with ARM.