The Apple TV is perfectly sized to fit in any home theater, and its added functionality for those with iPhones or iPads is undeniable. Its interface isn't the best, but when used with the remote app on an iOS device, it is very easy to access the content you want. 720p is less than desirable; 1080p is a must for anyone with a big screen.

I have all of my content sorted through iTunes, and with Home Sharing enabled, I can access every morsel of that through the Apple TV. Additionally, with various iOS or mac apps, you can push video or audio in non-sanctioned formats and have them transcoded on-the-fly. Pushing Pandora music is also very smooth.

This isn't the best it can be until it's 1080p, and it is definitely not as smooth without the iOS remote app, but it is still one of the most-used devices in my AV cabinet.