Apple TV was a "hobby" launched by Steve Jobs and Apple Inc. A hobby I have become quite fond of seeing that I have purchased two of them. I purchased the Apple TV with 160gig hard drive and the Apple TV with the streaming only service. I will go over the pro's and cons' of each and let you know which one is the one to pick up.
The Original Apple TV was priced at 229.00 with a 160 gig hard drive. This version of Apple TV has you attach your Itunes library on your computer to Apple TV with the option of syncing unseen or seen shows to your hard drive while streaming all other content as long as there is an internet connection. Apple TV provides you with a code which attaches your Apple TV to your Itunes library. The header's on Apple TV Hard Drive version are: Movies, Tv Shows, Music, Podcasts, Photos, Internet and settings. Under the Movies header the options are; My Movies, Top Movies, Genres, All HD, Search, Trailers. Tv Show header has My Tv Shows, Favorites, Top Tv Shows, Genres, All HD, Tv Networks, and Search. Music has My Music, Top Music, Music Videos, Genres, Search. Podcasts are as follows My Podcasts, Top Podcasts, Genres, Providers, and Search. Photos section is My Photos, Mobileme, Flickr, settings. Internet has YouTube and radio. And settings is settings.

The new Apple TV is priced 99.00 with a streaming only option. This requires you to connect your Itunes library on your computer to your Apple TV. You connect your library to Apple TV via your Itunes account. Once they are synced any movies, Tv shows, podcasts, and music that are on your computer can now be streamed to your Apple TV. The Menu is broken up into 5 headers Movies, Tv Shows, Internet, Computers and Settings. The Movies, TV Show headers are linked directly to Itunes so you can go to the Itunes and rent shows for 99 cents model which Apple announced late last year. The Internet Tab has your links to some Apple and non Apple internet options. The Computer header has any libraries you have attached to your Apple TV. And well settings is settings. Under the Movies header the links are; Top Movies, Genres, Search, and In Theaters. TV Shows has; Top Tv Shows, Genres, TV Network, and Search. The Internet header has; Netflix, YouTube, Podcasts, Mobileme, Flickr, and radio.

Now I know many people would say the menu break down has become simpler when you look at the menu break down from the Original Apple Tv vs the new Apple TV, but that menu simplification was done in a negative way. With the Original Apple TV any Tv shows you downloaded from the Itunes store will move right into the TV show section of your Apple tv into your My tv shows folder having instant access to what you have purchased. In two clicks or a few more depending on what part of the menu you are on you could be in your own personal library watching your own tv shows. This goes for your movies and music as well. The menu design is better on the Original Apple TV, you get to where you want when you want. Now if you do want faster as in the quickness of response to grabbing info off of your library then the newer Apple TV will be your choice. Streaming on the new Apple TV is better but the menu design isn't better. In the Original Apple TV it was easy to access shows you have downloaded on your Itunes library. The new Apple TV you must go to the computers, hit library then navigate through your Music, Tv shows,, movies, and podcast folders. You then navigate through the rest of the menu to try to find what you want to watch. Point to OG Apple TV
The one up that the streaming Apple TV has is NETFLIX. Netflix is an amazing streaming app that most devices now have installed in them from the factory. Apple TV streaming option has it and it works wonderful the way Netflix works just with the Apple feel on it. The only reason why I wanted the new Apple TV is for the streaming option but for $99 and I also needed a Netflix device in my bedroom. Point to Streaming Apple TV

In my home and I bet in some other homes I bet the internet company sometimes decides that your internet connection needs a break and you need a break from your network. If you had the streaming Apple TV you actually couldn't use your device. It would be a sexy black box sitting in your entertainment unit looking at you with the face of disappointment of why won't you play with me. If you had the original Apple Tv your network connection would never hinder your viewing enjoyment. Your hard drive saves you because your Apple TV is like an Ipod and stores your goodies for usage at a later point in time. Point to OG Apple TV
The Last thing to discuss is design of the two models. The OG Apple TV is like the classic Macbook in design. It is quite large and bigger than most routers and almost the size of a Wii. It is sleek and silver with a small thicker remote that likes like an original Ipod wheel. It fits in well with what use to be the Apple design. Vintage one would say. Now the new streaming Apple Tv appears to be as small as a hockey puck and can fit in the palm of your hand like it shows you in all the commercials and pictures. It is all black with a thin and lengthy sliver remote with sleek black buttons. I personally love both designs and do not mind the bulky OG Apple Tv. I do own the original PS3 so size truly doesn't bother me. But for those who need to have small sleek items that hide from every ones eye the new Apple Tv is the way go. I will say that if you hide the new Apple TV too well it will be hard for the infrared remote to function. With the larger OG Apple TV you definitely don't have to worry about the infrared function because it is well large. I would say the design point is a tie because everyones preference will be different.
In the end I suggest everyone pick up the OG Apple TV off of Amazon or where ever you can find it because if you are buying it for netflix alone, you need to go out and purchase an internet connect blu ray player that has netflix because that is your best streaming option. Match Point OG Apple TV.