Not sure if any of you have been following this new product by Hauppauge (no, I'm not affiliated with them in any way), but on May 1, they're shipping a new product that will convert HD video via component inputs (from any HD source) to H.264 format for $249. Since the product's not out yet, I'm not sure if it will be directly compatible with AppleTV or if you'd have to re-convert the file yet, but in either case it should work great for converting HD sources. Also don't know the audio formats yet, but it looks like 2-channel audio through RCA inputs will be AAC, and optical audio input will likely just mux the audio as-is directly into the H.264 video. For video you can choose a bitrate from 1 mbit to 13 mbit.
I'm guessing that there won't be mac software for it yet, so we Mac users will probably have to use Parallels or Boot Camp to use it, but that's a small price to pay to get HD video in, in my opinion.
Thought you'd all like to know about it... seems like it'll be a cool device. When mine comes in, I'll let everyone know how it works.
http://hauppauge.com/site/products/data_hd_pvr.html
I'm guessing that there won't be mac software for it yet, so we Mac users will probably have to use Parallels or Boot Camp to use it, but that's a small price to pay to get HD video in, in my opinion.
Thought you'd all like to know about it... seems like it'll be a cool device. When mine comes in, I'll let everyone know how it works.
http://hauppauge.com/site/products/data_hd_pvr.html