I currently have my old G4 533 dual hooked up to a 42 inch 720p/1080i lcd. I have a library of ripped DVD in "so so" quality, but gets the job done. I would like to start a new library of ripped HD-DVD and Bluray as the graininess of the normal DVD ripps are starting to drive me crazy. Anyway, will the apple TV allow me to play and store HD-ripped DVD's? And I assume the sound quality is not DTS or Dolby Digital unless I can rip AC3, correct?