What you mean to say is;

What the Apple TV gets wrong in your not particularly humble opinion.

So where do I get my TV/Film content to put on this thing? I either illegally download it - no further comment necessary... or i quasi-legally rip my dvd's to it... a process I'm not unfamiliar with... but wait? by the time i've ripped and transcoded a DVD I've spent about two to three hours on the process ++ whatever amount of time it takes to copy the content across to the device (which i assume to be an insignificant proportion of time, but anyway).

On my Apple TV, if i want to stream content off my Macbook to the tv I have to press a couple of buttons and wait a few seconds... The contents took a few minutes to download on iTunes over my 50 meg cable and cost, on average, £2-3 less per film than the dvd version did anyway...if we're talking HD tv series, a quick spot check of ten different TV series' I have on iTunes, compared to those same titles on blu-ray reveals I saved approximately £300 on just ten series. I've got a lot more than ten.

So the new Apple TV costs £123 less than the old one did and doesn't come with local storage - no loss - I never used it anyway. I'd much rather have an Apple TV than this thing.

"All that's missing, it seems, is DivX/Xvid"

So "all that's missing" is the video format that (I presume) the vast majority would wish to watch? Well played Tosh, well played.