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Update:

After using the new ATV for the better part of the weekend, here are some small additions:

  • Remote: Aside from the size and heft of the new remote, which I definitely like, I still maintain my feelings about the previous remote: I liked it, and in some ways prefer it. The old remote with the size and heft of this remote would be perfect. The new track wheel works for what I use it for, but I miss the full touchpad on the top half of the previous remote. I also agree with other comments about the placement of the mute button right below play/pause. An unfortunate decision, in my view. I don't dislike the new remote, I just don't.....love it. More refinement is needed.
  • I still see hardly any difference in speed from the previous 4K. Perhaps a little here and there, but nothing to write home about.
All in all, happy with the upgrade!
 
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Got my upgrade on Saturday. I had originally only ordered the remote but as soon as the news came out on Friday that ARC with HomePods was a feature I rushed to get the ATV 4K 2021 ordered.

While it's not a big upgrade from the gen 1 ATV 4K, the ability for ARC on the HomePods is amazing. I turned it on straight away and everything synced up perfectly. Playing games on the Nintendo Switch with the sound going through the HomePods is incredible, so for me that is worth the upgrade alone.

The remote, while the size takes a bit of getting used to, as does the size of the clickpad, I really like it so far. An improvement on the previous one definitely.

Overall, i'm happy with the purchase! And my sister is now going to have my ATV 4K 2017 so she will be happy with that i'm sure!
 
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