Yeah, providing everything works OK, you can install the missing components & operating system (OS) & use it as a normal/media center PC. Yes, it can be connected to a TV with the appropriate cable. You may find the fans noisy though for a media center PC, so some may have to be removed.
Does it have a CPU & power supply (PSU)? Latter I'm assuming yes with 'lots of...cables'. G
P.S. Full motherboard specs click here