Here's my prediction. Same as always. Feel free to flame away when I'm proven wrong 
In your Dreams: Brand New ATV, decently priced with TB hard drive, BR player, DVR functionality, tuner, BR drive, Netflix and Hulu.
Not Likely: Brand New ATV, with all updated specs and components, but with same basic functionality. 1080p.
Fairly likely: Apple completely ignores the ATV, once again.
More Likely: No new hardware, ATV 3.0 update.
Most Likely: Apple discontinues ATV was we know it. Partly replaced by new or break out product (tablet), or Apple exits the living room space all together.
Apple has fallen way behind when it comes the the living room. The 360 now does everything the ATV does, with far better quality, and a whole lot of stuff that the ATV can't do. Its only weaknesses now are noise, size and controller. These are all minor and can be mitigated somewhat. The new interface is just as easy and pleasing to use as the ATV. I haven't really touched my ATV since getting the 360. On one box I have all the same movies and shows that itunes has, that play on more devices...movies tend to be a $1 cheaper and look better in HD. Netflix on 360 is incredibly good. Hulu on the 360 via playon destroys hulu on ATV via boxee...
The 360 is the one, (and only) thing I have to give MS a lot of credit for......
In your Dreams: Brand New ATV, decently priced with TB hard drive, BR player, DVR functionality, tuner, BR drive, Netflix and Hulu.
Not Likely: Brand New ATV, with all updated specs and components, but with same basic functionality. 1080p.
Fairly likely: Apple completely ignores the ATV, once again.
More Likely: No new hardware, ATV 3.0 update.
Most Likely: Apple discontinues ATV was we know it. Partly replaced by new or break out product (tablet), or Apple exits the living room space all together.
Apple has fallen way behind when it comes the the living room. The 360 now does everything the ATV does, with far better quality, and a whole lot of stuff that the ATV can't do. Its only weaknesses now are noise, size and controller. These are all minor and can be mitigated somewhat. The new interface is just as easy and pleasing to use as the ATV. I haven't really touched my ATV since getting the 360. On one box I have all the same movies and shows that itunes has, that play on more devices...movies tend to be a $1 cheaper and look better in HD. Netflix on 360 is incredibly good. Hulu on the 360 via playon destroys hulu on ATV via boxee...
The 360 is the one, (and only) thing I have to give MS a lot of credit for......