If you have a Wii and a broadband connection you can already do this. The Wii also cost less than the AppleTV and it does more.
"This is the first time users can easily browse, find and watch YouTube videos right from their living room couch, and it's really, really fun. YouTube is a worldwide sensation, and Apple TV is bringing it directly from the Internet onto the widescreen TV in your living room."
said Steve Jobs, Apple's CEO
Some other folks on the Internet have been talking about this but I ignored it for the simple fact that it is not really news.
In fact, if you had been paying attention in the past you would also be aware of the announcement of StumbleUpon bringing video content to the Wii.
So, when will we hear Steve Jobs talk about their ground breaking deal with StumbleUpon to bring video to the AppleTV?
The AppleTV is not a real good product by any stretch of the imagination. It's not a DVR, it only streams content from another computer. Why would you buy such a thing? If you want to put your computer on your TV just get a video-out board. In fact, most new video cards already have a video-out option and some HD TVs have a VGA port.