"The Mini 10 uses a Z530 whereas the Mini 10v uses the N270 and the N270 is 15-20% faster"
You're comparing one computer - how do you know the CPU is what's causing the differing performance? It could be a number of things so one example isn't definitive proof.
As I've already linked this PC is perfectly capable of playing HD videos but we're straying from the subject of the thread - the OP didn't even mention HD playback so it doesn't matter if it can play it or not does it? So, even if it couldn't manage HD I still think this would be a good choice of PC for him.