Apple TVs have started to ship.
Email received this morning from Apple said the product will arrive by Thursday, September 30. But FedEx tracking info pegged estimated delivery on Wednesday, September 29.
While it will be nice to play with it a bit, its true value won't be realized until Apple ships iOS 4.2 in November. This upgrade will add AirPlay capability to iPhones, iPads and iPod Touches, enabling projection of Hulu Plus and anything else on those device screens onto the big screen attached to the Apple TV.
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