I don't do lighting yet, fairly certain the answer to it is yes though. It certainly is instant for HVAC and my Elk stuff. I used to use a PPC for all that until I got frustrated by the small screen size, so I know that's possible on that device too. Now I use that 3400 for all my stuff.
You can render CQC on any display device you want [TV, touchscreen, PPC, etc]. There's a few IR receiver & transmitter options you have for universal remote control, all of which work perfectly well.
Best thing to do is to try out all the packages you're looking at, see which one works best for you. If you opt to try out CQC, i've got an open offer on the CQC forums to assist folks through the setup & install of my skins live, which do media mgmt [receiver, xm, fm, mp3, dvd], weather, traffic. It generally takes anywhere from 30-90mins, based on how much we stop to teach you stuff along the way.
Of course, this is all assuming you have hardware that has drivers already made.