I did not have the original Apple TV, but was waiting for v2 to come out and for $99 it did not take much thinking. For me so far, just got it today, I have noticed a few things that I'm happy and not so happy with. I often use iTunes, along with the Apple Remote app, and my home stereo system. In addition, I'd commonly share the display with my Mac and play videos/shows/movies on the HD TV. The Apple TV, I was hoping, would allow me not to have to worry about the cable (and/or AirExpress) and DVI/HDMI cable going from the MacPro to the TV. I'd just play everything on the Apple TV, which would be relatively near the home stereo & TV. That's where I'm coming from. Good 1. The setup was pretty easy. Had a bit of trouble with getting Home Sharing to work, but that was because I had not installed iTunes 10.0.1, yet. 2. The video and audio quality seems to be fine. Video quality seems to be a bit less then when played directly from my Mac, but not that much of a difference. Nothing that I'll complain about for now. 3. Appears to be easy to download or watch content on Netflix. I have not tried that yet, it'll have to wait until next week, but others seem to see it working fine. Bad 1. I wish you could control the volume, as I commonly did with iTunes using the Apple Remote app. Now, if I want to turn the volume down, I have to grab the stereo remote or TV remote. It's not all in my hand. I wonder if 4.2 will allow for some of that. 2. When you are watching a video, then go to the main menu, and then back to the video, the audio stays on (which I want), but when you get back to the video, it's back were you left off and races to sync back up. So, it looks like it's fast forwarding for about a minute or so before it syncs back up. I'm sure that would not be a hard fix, but a bit annoying for now. 3. If you close the Apple Remote app and then come back to it, the app does not remember what playlist you were just using, so you have to drill back down to the playlist. I don't recall it doing that when connected to iTunes on the Mac. 4. Can't play videos from a MobleMe gallery. 5. Can't see MobleMe galleries that are hidden. OK, the workaround is to un-hid them, but I wish I could still see them, if I authorize it with my password.