Apple has finally taken the Apple TV out of ‘hobby’ status and loaded it up with features that will appeal to a wider audience.

2nd Generation AppleTV
The new AppleTV model shrinks from 7″ square, for the previous model, to just 3.9″ square and slightly less than 1″ tall. In sharp contrast to the older model, which was essentially a Mac running special software, the new AppleTV is an iOS device running on Apple’s own A4 ARM processor.
The move to an ARM processor means the new AppleTV is much cooler and more power efficient than the older model. Note that the new AppleTV does not have an App Store at this time, though it is nearly certain that it will be jailbroken at some point. Read more
Apple in negotiations with streaming partners for upcoming TV device?
Though rumors of a potential full-fledged Apple home theater device have been showing up frequently over the past year, sources are telling Reuters that Apple is currently negotiating with streaming service EPIX to bring content to both the current Apple TV product and to “upcoming devices that stream content”. Read more