So far I am very impressed with the new ATV. Unboxed it last night and in about 20 min I was streaming material from my iTunes library. I signed up for a Netflix account also and that seems to work great (I wish that the iTunes store had a monthly subscription like Netflix). I like the ui for the ATV and was very simple for the kids and even had a great response from my wife (she is not very gadget friendly).
Played around with the youtube access and that also worked well.
A couple of questions, i am thinking about getting an iPad and would like to use the remote app to control the ATV. Can the remote app also control other devices like the TV, DVD player or cable box.
Nope...the Remote App emulates the ATV remote. It is not a universal remote.