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4th time was the charm for me.

It mentioned "Trailers" in the welcome screen, but I don't see that feature anywhere. Hmmm...
 
Oh, and a word of advice for anyone who has to restore the ATV via the micro-USB: plug out the ATV power cord before you click the "Restore" button, otherwise the restore process likely to fail. The USB cable will provide enough power for the ATV to function while restoring.

(Thanks to a fellow MacRumonger for the tip!)
 
Worked on the 3rd attempt. Now to try out some AirPlay mirroring! Good luck guys.

Looks like the third time is a charm. I made it to step 2 of 2 now. Applying update...

I'm not holding my breath though...

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If only my iPad update would move this fast! That thing is moving pretty dang slow.
 
Photo Stream- View photos recently taken on your iOS device and pushed to your Photo Stream in iCloud.

AirPlay Mirroring Wirelessly stream what's on your iPhone 4S or iPad 2 screen to your HDTV.

National Hockey League- Watch live games. View highlights, scores, and more.

Wall Street Journal-Watch up-to-date news, business commentary, and financial analysis from leading experts.

New Slideshow themes- Enjoy your photos on your HDTV with new slideshow themes: Photo Wall, Flip-up, Shifting Tiles.

Netflix-Added support for subtitles when available.
 
Photo Stream- View photos recently taken on your iOS device and pushed to your Photo Stream in iCloud.

I can finally cancel my Flickr Pro account! It was cheaper than MobileMe, but free and perfectly integrated is better :)

AirPlay Mirroring Wirelessly stream what's on your iPhone 4S or iPad 2 screen to your HDTV.

Essentially gives AppleTV 500,000 apps.

National Hockey League- Watch live games. View highlights, scores, and more.

Finally! Up here in Canada, we were happy to take MLB, and hoping for NBA (I wonder if it's here now) but Hockey is our national sport. I wonder if it has the same limitations as MLB and NBA where you can't watch your home team in its territory (no Blue Jays games in all of Canada!!). That defeats the purpose of the app for everyone but the most fanatic sports fan who follows all the teams, and not just their own.

Wall Street Journal-Watch up-to-date news, business commentary, and financial analysis from leading experts.

Slowly opening up the path for live news: CNN app not far behind?
 
Does Real Racing 2 HD do full 720p? Everything that I've tried via AirMirror looks to be 4:3 including Angry Birds HD and Infinity Blade. I just looked at some videos with RR2 that looked 16:9.
 
Yeah RR2 and any app that (properly) uses Video Out will display full screen 720p instead of the 4:3 screen.
 
Ugh, tried two AppleTV's, twice each, and both got the "The update was not successful" error. Going the USB route now...
 
Neither of my AppleTV's will update/restore using the ipsw through iTunes method, either!!!
 
Neither of my AppleTV's will update/restore using the ipsw through iTunes method, either!!!

Same here. And plugging it back into power and the HDMI cable now brings up the connect to iTunes image. I'm afraid my ATV2 might have gotten bricked in the update process somehow.
 
Neither of my AppleTV's will update/restore using the ipsw through iTunes method, either!!!

I tried everything on my bedroom's appleTV multiple times with absolutely no luck, I decided to give it a rest and tried the one in my living room and the update was fast and seamless...now I'm back in the bedroom and this one still says 40 minutes remaining, from 45minutes 20 minutes ago, my other one didn't take more than 7 minutes to download...so we'll see where it goes...both are setup identically and had the same version prior so go figure
 
It finally worked via iTunes, after the 4th try that way. I was getting error 3014, which Apple Support says is difficulty connecting to Apple's servers, so I bet it's got something to do with their servers getting a heavy load.
 
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