<sigh /> Kinda like ATVUSB-Creator's Software Menu/3rd Party Plugins installer/updater?
I'm not affiliated with ATVUSB-Creator but I've been hacking patchsticking my ATV since almost the beginning, and ATVUSB-Creator is one of the best, if not the best patchstick out there. Let me put it this way, the bootloader all other patchsticks use was created by Davilla, the developer of ATVUSB-Creator (he had open sourced it). Doesn't that tell you something? He also has the blessing of all the plugin creators (because he doesn't try to rip off their work and make a profit from it). And he's the main developer responsible for porting XBMC over to the ATV. Oh yeah, and he makes all this available for free!
Now if his patchstick wouldn't work or wasn't maintained, that'd be another story. Just keep in mind, just like all the other patchstick vendors, you have to be careful about what memory stick you use, but there's plenty of info on that around the web.
I just think it's end of story --- use ATVUSB-Creator!