Just hooked up my Apple TV and I'm, uh, busy. Be back later after the Free Will Daughter has had an Elmo session on YouTube.
UPDATE: well, on the one hand, Apple TV is pretty impressive. It practically sets itself up. The platform is simple and very intuitive. It's great to finally be able to watch YouTube on a big TV screen, rather than on my laptop. I was also pleasantly surprised to see how many radio stations are on it (there are dozens of genres, with hundreds of stations for each type of music). And, I can use my I-pad to play videos, music, etc.
On the other hand, entering information into the search box is a little laborious. You have to scroll around with the remote and enter numbers and letters that way. Shouldn't "internet on the TV" have a keyboard instead of a goofy little remote? More important, shouldn't "internet on the TV" have more than what Apple is willing to give you? Netflix is there, but no Amazon. MLB and NBA, but no NFL or NHL. And so on.
All in all, a great tool, but it's only a supplement. No one is going to cut the cable cord after buying Apple TV.