as many have already stated, it really is worth the price... provided at least one of the following is true:
-you have a Netflix account and use the streaming feature
-you have an mlb.tv or nba.tv account and watch games
-you have a large library of ripped video (and music or pictures) you'd like to watch on your main TV
plus the other things like youtube and iTunes rentals....but those are kind of secondary, i think. even if the ripped video you have is not in an idevice friendly format, something like air video with it's new airplay support can transcode to an iphone, shifted to the aTV. and there's always the jailbreak option. plus, if you have a friend over that also has an iphone or ipad, put them on your wifi and they can just shift their music/movies/photos to your TV as well. better than passing the device around.