ATV looks well worth the cost.
Handbrake is an app that will rip and covert DVDs to a format that allows you to play via ATV and your other iDevices.
Our bluray cannot stream movies from your Mac to your tv, most likely. If it can, then tell me what player you have, please. ATV offers a couple more apps like NHL and MLB but it doesn't offer Amazon Video. Really, I have a BR player with apps like you and I use that in place of an ATV. I have an ATV in my office where there is no BR player with apps. I don't stream any movies from my Mac, I have an HTPC that has a couple externals connected full of movies.
Thanks for the answer(s) all hands. My BluRays are LGs (170?) with Movie, Photo, Music, Home Link, Netcast (which includes Netflix, Vudu, CinemaNow, MLBTV, DIVXTV, YouTube videos, Pandora, napster, Picasa, and AccuWeather.com, but can't get it to pick up my iMacs. The Home Link looks like it might, but the Home Link handshake software is a roadblock so far. Have to investigate ATV to see if it will pick up at least the three of that gaggle that I use, mostly just Netflix for now.
I guess that's the answer I was looking for, ATV gives you iTunes and the Store. Looks like I may have at least one LG to move to another TV in the house, to be replaced by a new ATV, next iteration expected soon. I have a huge iTunes library, growing fast into my 3TB 27" 2012 iMac, having just purchased a new Classic. Gave up on Apple upgrading Classic.
ATV looks to be worth it to stream from my iMac and Apple services. The LGs are otherwise great boxes with fairly frequent online firmware updates, simple and reliable WiFi handshake, digital audio out, and solid HDTV quality. Have three of them sucking on my Linksys E3000 WiFi router, along with an iPad, and a Touch, with no problems.
Where is Handbrake?