We still don't know all the details of what the device actually does, so how can you judge.qtip919 said:why the 300 dollar price point.
We do know that it is supposed to be able to render streamed HD over a wireless link, meaning it has to decode H.264 at full HD resolutions, meaning the processing requirements for the decoder are pretty high, so this is very little like an airport express which only has to decode Apple Lossless to straight PCM. More too than an iPod which only has to render 320x240 fro 640x480 source material.
$299 sounds like a good deal to me.
Note too that unlike some of the other HD devices like a DirectTV HD-DVR it's not subsidized by the service provider to lower the barrier to entry. Apple may be able to do this if they come up with a subscription model and amortize some of the cost over the subscription period...
B