Or get a Gen 1 or Gen 2 AppleTV, both of which are (very) easily rootable and can run XMBC smoothly and cost less than half the price of the Android tablets I've seen.
But what about the AK802 Android 4.0 micro-pc network player with 1.5ghz Cortex A8, 1GB RAM, 4GB flash, HDMI for less than $70 ?
Its the size of s thumb drive, so you could make a keychain out of it. XBMC for Android should make this playable out of the box (no root necessary).