Here's my beef with the new Apple TV:
* Power consumption - Everyone complained about the lack of effective sleep mode on the original ATV. Now, the power consumption of the ATV may be lower, but you'll have to leave your desktop computer on and out of sleep mode in order to use it. Fail.
Not really. The assumption here is that the material is on your home computers. If the local storage management is removed from the situation then you are renting content from Apple. Apple's servers have to be on 24/7 anyway. So no new power savings. You stream from the "cloud" and byapss all of your computers. Net energy savings.
As someone else pointed out wake-on-lan can wake sleeping computers.
* No 1080p - my Blu-Ray player has this, why not the Apple TV?
As long as the content is being delivered through the web this isn't practical with common ISP bandwidth. The amount of data is too large. Yes this where the 'big bang of hurt' actually has higher value but Apple will still blow it of.
* Streaming only - given network congestion, I would want a buffer of at least 500 MB in order to rely on a streaming connection all the time. I'm not aware of any device with a dedicated buffer that large.
errrrr. doesn't the quicktime browser plug-in allow you set a buffer. Pretty sure on a 4GB Mac this is entirely possible. The $99 AppleTV probably doesn't have 4GB of RAM, but shouldn't be too hard to squeeze out 50-100MB or so of memory so this of what it does have ( I'd suspect something closer to 640-1,000MB. )
Honestly, when I read the rumors about the next-generation being streaming only and not having 1080p, I thought it was one of the intentional, incorrect leaks that Apple does to under-promise and over-deliver, like claiming that the original iPhone would have two batteries.
No it made sense because this was one of the primary ways to get the costs down: dump the storage cost. Apple TV cost too much. Apple is going to sell a significant more now because it is $200 cheaper. Basic econ 101 supply demand curves. If Apple wasn't going to do a DVR, then might as well dump the drive.