Get it together

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Would anyone like to help?
I have a late 2008 macbook as my main machine right now with new 750Gb drive and just upgraded to Lion. I have a new Seagate 2TB external HDD that I intend on using for Time machine backups with a passport drive as secondary backup. The macbook screen connection is flaky so I just bought a Mac mini (4GB, 500Gb 5400 HD) as the heart of my new system. I am thinking about purchasing Apple TV(some reservations, eg.720P) for streaming my content and internet to living room connected to Sony ES home theatre. I have looked at Boxie and Plex software media servers as well.
Q. Where should my main libraries, data files, applications etc. reside. I was thinking about using the Seagate external (5400 USB2). Will this be too slow? Q2. What would be the optimal configuration.
Q3. How does iCloud fit into the equation?
Thank you in advance
 

RavingMac

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Your Mac's Specs
16Gb Mac Mini 2018, 15" MacBook Pro 2012 1 TB SSD
FWIW if you are planning on streaming your Media, I would put it on the Mac Mini. If you leave the Mini on and logged in the files are always available.
 

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