Bought this mainly so I can watch Netflix movies on my big tv (as my Samsung smart tv won't install the Netflix app). As you would expect with Apple, everything just works out of the box and is easy to set up. The only thing i've spent any time figuring out is that my TV doesn't pass-thru Dolby 5.1 audio, so I had to connect the Apple TV via optical cable straight into my soundbar (rather than via the tv) and switch on the Dolby option in the 'Apple TV set-up menu' and it works fine now, but that's Samsung's fault, not Apple's!
We also have ipads and iphone's in the house which work seamlessly with the Apple TV, playing movies and listening to itunes music. Their is also a YouTube app which I found to be very good.
The only reason I haven't given it 5 stars is because I think it's time Apple starting thinking about other regions more (not just the US of A) and gave us BBC iPlayer, and some of the 'on demand' channel aps like for the likes of itv, C4 and C5. Then Apple TV would be perfecto!