apple tv still a good option?

Sure. of course there are rumors of a new atv this fall. but some of those rumors might actually make it worse for playing your dvd rips. hard to say. If it does what you need then I'd say go for it. As far as reading apples tea leaves ... good luck.

If you want any of these wait, If a new comes out and the usage is worse for you than the current one as the previous poster said the Apple TV will be much cheaper, and If the new one fits your needs you will love it

It's a good option, but it's not really cheap and useful, Ripping DVD's on your Mac and then getting them on the Apple TV can be a pain comparing to a DVD Player, and of course you won't have a lot of space for them, To Stream Music you can just get an Apple AirPort Express that does that via AirTunes and it costs under 100$ and you (maybe) could even extend your wifi network (not sure)