I know very little about ATV in general and was thinking about buying one because im tired of hooking my laptop up to my tv and running chords all over the place. Basically I have taken all my dvds and ripped them on to a 1TB external hard drive (in mp4). Which option would be best for me? With the old ATV do you have to rip the dvd to your computer then transfer it over to the ATV? To me it seemed that with the new ATV you can just rip the file to my ext hard drive and just add that file to my itunes library and play it via that way. I basically was just hoping someone could just give me the advantages/disadvantages of having the old/new ATV. Also what kind of hacks can you do with the old ATV?