So far I'm quite impressed. Everything was set up easily and the quality is impressive. I set up my Flickr account and now it's my screen saver. I was able to pick the exact Flickr set I wanted and the pictures look VERY nice (especially the landscape ones).
The remote app in my iphone & ipad make using it SUPER easy (especially compared to the little remote that comes with it that I'm certain I'll lose).
Waiting for the Android version, which will be cheaper, more functional, and I'll be able to play anything I want on it. (Actually, I'd be happy to get rid of every tv in the house, but I would have a revolt on my hands.)
I have the previous generation which was a piece of c**p and only good for paying Apple lots of money for their shows or music. It crashes all the time to boot.
Mind you, that all changed when I discovered you could install XBMC on it and now it's a decent video streaming device. Still crashes a lot though.
The new one looks more hopeful with it's extra functionality and ability to use third party media sources, and a whole lot cheaper too. Think I would only like it if I could hack it in the same way as my current one though.
Love my Apple TV...we've got the older one and it's been super! (Good for watching the downloaded PS classes I bought, too.) Love listening to my itunes while I'm running around the house, too!