I did the same thing, however I have found some serious flaws with the AppleTV. I am sure if it was made by anyone else other than Apple it would have also fallen flat.
1) Lack of TV shows to rent.
2) Can't stream divx/xvid from PC.
3) Rented movies download slow.
4) No Hulu Plus!
I bought the AppleTV on launch day like I did the iPad.
I also have the Sony Media Player and it does all for only $20 more, plus AmazonVOD has a ton of content.