I'm new to Apple products, so can somone explain the difference between HDMI out vs Airplay(other than wired vs wireless)? Pros/cons of each.
Here's the little I know:
AirPlay: Feature on iOS devices over WiFi. You must have an AppleTV for this to work. It has limited use right now, mainly for playing video and music and displaying photos from Apple-created apps. But this should change with the release of iOS 4.3 and the addition of the ability for third-party developers. I wouldn't be shocked to see YouTube add this functionality.
HDMI out: Just requires the $39 adapter, an HDMI cable and a TV with an HDMI connection. Mirrors everything on the screen. No wireless network or AppleTV needed. This will be quite useful in schools and offices for presentations. Another reason to need a notebook computer less.
There are pros and cons of both. You need to spend money on hardware either way. The cheaper way takes a wire, the more expensive one doesn't. Not everybody has an AppleTV; millions more have TVs with HDMI.
You forgot to mention that the adaptor is better... since pretty much everything the ATV can do.. the iPad can.. and it can present in 1080p!