The SiS graphics unit does have DVD acceleration. Divx might be a close call, but should be OK.
What I didn't like about this mainboard is the stupid position of the COM2 and USB headers, way too close to PCI cards you possibly want to plug in. Also, I didn't get a Hauppauge PCI TV card to work in it, apparently due to a disagreement on the usage of the graphics card overlay buffer.
On the bottom line, for a 2D media oriented PC I'd rather go with a VIA chipset.