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Apple TV announced, but only offers 720p

Appletv The Apple Store is still down for updating, but the news is out: Apple officially unveiled its ITV concept product that wirelessly streams video to your TV, and its called Apple TV.

Apple TV is a small(ish) box that can connect to five computers, offers USB, ethernet and HDMI inputs, a 40GB hard drive, and transmits at 802.11 b/g and 802.11n. The video sent is only 720p, which is quite a step below the 1080i that HD TV sets come equipped to broadcast. Apple TV costs $299.

The good news is that Apple TV looks like a great solution for those who have a large video library on their computers. And given that Apple is increasingly signing more content to iTunes, it looks like a convenient way to view movies. The bad news is that Microsoft's Xbox also offers great movie content, is already hooked to your TV, and offers HD content in 1080i. Of course, Xbox doesn't have an HDMI port, but rumor has it that port is coming soon.

Meanwhile, if you're not satisfied with Apple's or Microsoft's gear, you have a bevy of other options.

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