To read the HDD and serve up media while in sleep mode has yet to be done.
HOWEVER I did this another way and I'll share. My router has 2 USB ports that I can plug in some HDD (low power) and USB MEMORY sticks and it can serve up files or DLNA (see google).
Then my PC can be off or sleep and the media is shared. Just last week I upgraded the USB HDD to a 2TB Toshiba Canvio Basic since I didn't want the "extras" in the other models. Also I wanted it to be low power and big.
PS. Added with edit.
I used the 80 buck model at http://www.amazon.com/Toshiba-Canvio-Basics-Portable-HDTB220XK3CA/dp/B00ARJD56K
I would like to turn my windows 7 pc into a media server. What I wanted to do is have my pc in away mode or sleep mode but still able to share media. If it can stay in either away mode or sleep mode while it's sharing media that would be great but if it has to wake up to do so that is also fine as long as once I'm done it goes back.
Can that be done?
If so how and what power settings would I have to change?
What would I need to change them to?