Have a 40 GB ATV and love it, especially for lossless music streaming from my main iTunes library. I ordered the new ATV for my second home, where I have my iTunes library setup on a 750GB hard drive. However, I have no internet access at this place for most of the year - only during the winter when I spend most of my time there. I get by with iPhone 3G access the rest of the time I'm there (a few days a month). Now, I was able to successfully stream my own lossless ripped CD's and Handbrake converted video files from my iTunes library over my wireless network with no internet connection using the old Apple TV. Had no problems whatsoever. But all this talk about Home Sharing only and having to log into an iTunes store ID with the new ATV has me worried. Does the new ATV have to constantly be connected to the internet to stream my own locally stored files over my own local network? If so, that really blows. The folks in Cupertino need to realize that not everyone purchases their gear to purchase content through the iTunes store. The old Apple TV was very useful as a low cost, high quality music server that made a lot of the higher priced music server systems look foolish, and I'd hate to see that clean, simple functionality compromised by requiring a constant internet connection. I really hope this is not the case.