"Very Impressed from the "Hobby" of Apple"5.0 starson by FS1982!
Pros: The idea of Airplay is golden! Nice design and good price point.
Cons: There was no overwhelming con to this product. Yeah there are things that I wished could be here sooner, apps, streaming recorded video from iPhone 4, etc but I have a feeling all that will be coming.
Summary: Airplay was the reason I purchased this product a few days before the 4.2 update and I can tell you it is even better than I thought it would be. I am an iPhone 4, iPad, and iMac owner and Airplay was definitely the best thing to come out of the recent updates. This is so simple to do setup and there are features that you can't see unless you own one. For instance, this setup appears to be the quickest way to show pictures to friends in person at your house on the best screen in the house. I can literally take a picture on my iphone and show it on my big screen in less than 5 seconds...no joke. I can download a song on my iphone and play it immediately on my surround sound system. It is phenomenal! I don't think any setup is faster or more convenient. Even if you have a computer hooked up as your media hub you would have to email (or post) the picture to yourself and use a keyboard/mouse to jump into your email and pull up the picture. Another con I thought of was, you have to be an Apple user for many of the benefits. If you're not using an iOS device you may not see the the innovation behind ATV. For those of you who have an iOS device I think you will be amazed at what you can do and the ease with which you do it. I think ATV is really a treat for those who dedicated iOS users. I could certainly see if someone thinks the functionality would be the same with other devices will be disappointed, so if you're reading this make sure you research your options carefully.