I would take the 1st gen Nexus with a Chromecast over that.
If you're going to use the tablet as a tablet, not just a hdmi media device, that Hanspree would just wind up frustrating you. Even at a bargain price, I think you would regret the purchase. Unless of course, you have zero experience with a quality tablet in which case you might achieve blissful ignorance!
If you're not going to use it much as a tablet, have you considered a totally different approach? How about a Raspberry Pi with a memory card, HDMI cable and Openelec? Costs <£40 and hundreds of guides on the internet. You could then stream your media from your laptop or similar. Wouldn't be suitable for netflix, but guessing you consoles have that covered.