For various reasons which I do not want to go into I had to sell both of my Mac Pro's and my 30" ACD will be next. I spend 5 days a week in a place that has no TV nor cable or satellite. I still have my 17" MBP but the screen is a bit small to watch movies on from bed so I'm gonna do something. If you were me what would you do?
Hackintosh a 20" iMac G4
Buy and MDD and get a 1080P screen
Find a white G5 iMac
or other
Keep in mind that white Intel iMac's still bring ~$400
Sorry to hear you had to sell your pro's. Won't inquire.
I'm not sure what you point to with "Hackintoshing a 20" iMac G4" - why exactly would not the 20" do as such?
An MDD with enough oomph to play your files will probably only be useful if you watch high-volume action flicks and have a decent sound system - otherwise what you hear is the wind tunnel and rattling of the PSU fans (I admit an MDD can be silenced - I've done it myself, but even though I cut three quarters off the sound level, it's still three times noisier than my 2008 MP.)
The iMac G5 is risky. Sure, If you find one which has made it thus far, it won't have the most common defects, but...
others:
That you feel the 17" has too small a screen means you're not having it anywhere close - I just yesterday sat watching some flicks on my iPad. Sure, I had to hold it in my lap, but I'd say the viewing angle was comparable to a tv at recommended viewing distances.
If you definitely want a 20" screen minimum, I'd look for either a "cheapo" monitor to go with an early intel Mac Mini (I regularly see those for ≈ 150 ) or a 20" intel iMac
A used PC box with a 20" LCD
RGDS,