I don't think they will end the mini at all. It's a perfect low-cost entry model, especially for people who are still on windows but are interested in trying Apple. Just unplug all your USB devices and your LCD, and simply plug them into a mini and turn it on. It doesn't get much more turn-key than that.
ITV will get re-vamped. If not this week, soon. I've heard for a manager at the Apple store in SoHo that sales of iTv have been low. However, this is the direction that media is headed (i.e. the convergence of the internet and television), so I do imagine Jobs to be re-thinking this equation to make demand more attainable.
Personally, I'm amongst those who wished the iTv would have at least included a DVR. But there was strong assurance that iTv would not be a "tivo killer." Who cares! Kill Tivo, please. Drive them out of the market. And while you're at it, take Comcast and Time Werner with you too!
Of course you can use a Mac Mini as a DVR and connect it to the iTv, but that's a expensive alternative to something that should be a "no-brainer."
What would really be exciting would be an iTv DVR with RSS Video Channel and Blog subscriptions. In short, let me record what I want from cable and watch what I want from the internet, so my media choices are exactly that; mine.