I have a Drobo S attached by firewire to my Mac Mini sitting under my TV. To be honest, I think that it is the best setup because, as far as I can tell, the ultimate ease of use can't be duplicated with another setup.
The Mac Mini is a home server running Plex, so it shares all my media with the rest of the house (and my iPhones via the interwebs). An added benefit of having a computer at home is that I can do all my downloading remotely using sabnzbd+. Everything is automated so that it automatically shows up in Plex.
From what I gather, you can retain the same functionality using a Synology NAS and a jailbroken AppleTV. The problem is that the AppleTV is not guaranteed to play high bitrate files, and the NAS may not have enough computing power to transcode on the fly if that happens. Moreover, Plex is in it's infancy on Synology NAS' as well as on the AppleTV. Bugs are somewhat commonplace, I've read. You don't have to use Plex, XBMC on the AppleTV is supposedly pretty decent, but then you don't have the benefits of a Plex media server.
My Mac Mini + Drobo has been rock solid at displaying any and all of my media to any source I have.
Im with you here Capt, the Mac Mini/Plex/attached storage cant be beat. I tried a Synology DS410 but returned it shortly after. It was nice but I felt that it was just too much for what I needed. All I really needed was a solid 4 bay external enclosure with RAID and FW800. I found that in the OWC Mercury Elite Pro Qx2. It costs about $300, can do RAID 5, and can easily serve flawless Bluray rips anywhere in my house (wired eternet connection required for high bitrate though). I haven't had any issues with it. It doesn't have much for bells and whistles but it's really easy to use and I haven't had any issues with it.