Ok. So its a hold.I would imagine this has less to do with lion and more to do with ios5
Not sure I agree ATV is a hobby device. Its in many people's homes as their core media center. i.e. music, movies, TV shows, photos and video.I'm guessing it's not in the buyer's guide do to it being a hobby product, all we have to go on are rumors.
If the Apple TV receives an update this year, it will be at the annual iPod Event which is in early September. Wait until then if you are worried. There are rumors of a 1080p Apple TV.
I think that Apple will soon update the AppleTV so that it can output 1080p.