I bought an Apple TV a couple of months ago, and the 'select' button on mine is slightly wiggly as well. In fact, the menu and play/pause buttons are a little wiggly, too, if you pay close enough attention. It bothered me at first (makes the whole thing feel cheap and flimsy) but now I don't really notice it too much. I'm sure if I had taken the remote back to the Apple Store and complained, they would have swapped it out, but I never bothered.