Apple TV Hacking
Apple TV hacking is coming on very nicely.
At the moment I have SSH access into the box, and a full read-write filesystem to copy whatever I want on, and make any changes I need.
There are already codecs available to allow playback of XVid, DivX and various other video formats.
Support to allow mounting of external drives through the "non functional" usb port have already been written, and support to allow mounting of network shares.
At the moment I have my NAS box (samba) sitting with different types of videos, although mostly my favourite flavour XVid, which I watch through the NitoTV or ATVFiles plugins.