This review is solely based on Apple TV (third generation) and using Apple's wireless keyboard paired up with it.
 
I've been using Apple TV (retails for $109) for about a year and have nothing but great things to say about it.  For those of you who haven't seen it before it looks, see Figure 1 (excuse the dust).  To the right is the remote.  The remote is easy to use but isn't efficient to navigate so I purchased the wireless Apple keyboard (retails for $70; Figure 2).  In order to pair the keyboard to Apple TV, while in the settings it will search for the keyboard using Bluetooth, ask you to enter a few characters on the keyboard and it will finish the pairing process.  Navigation using the keyboard is by the arrow keys and entering text by the keys with letters on them - no need to position your cursor in the text box, just start typing.
 
You may use WiFi or Ethernet with Apple TV.  It's recommended that you have at least a 6 mbps connection (720p) and greater than 8 mbps for 1080p.  If you have fewer than 6 mbps, you can also set Apple TV to playback using Standard Definition.  Troubleshooting playback performance.  I use WiFi on a 20 mbps down / 2 mbps up connection and haven't experienced any buffering issues.  From the time you rent a 1080p video and start it, it takes less than 10 seconds to start buffering and begin to play.
 
Things I like about it:  Performance, clarity, smooth and easy navigation, accessibility to all of the apps I need, Bluetooth keyboard compatibility, straightforward configuration, updates with fixes and features.
 
Things I could do without:  None.  I haven't found anything that I don't like about Apple TV.
 
After powering on Apple TV, you're greeted by a page with a page with apps, see Figure 3, 4 and 5.  Below is a quick summary of each app.  Apple releases updates periodically including new apps. 

• Movies:  Using your Apple ID and password paired up with a payment method, you're able to rent and buy thousands of movies up to 1080p.  Previews are also available.  Renting a movie costs between $5 and $6.  After you rent a movie, you have 30 hours to start it.  After you start the movie, you have 48 hours to rent it before it disappears from your account.  You can resume or restart the movie if you decide to do something different on the Apple TV device or turn it off.
• TV Shows:  Similar to Movies, TV Shows allows you to buy episodes and/or whole seasons.
• Music:  Look up artists, genres, etc. and play the song you choose with a static background.
• Computers:  Using the Apple ID primarily entered, Apple TV will look for libraries (ie. on computers) that have Home Sharing turned on and allow you to play them back on your TV.
• Settings:  See Figure 6.  Thoroughly configure the device.  Primary configuration is started the first time you power on the device.
• Netflix:  Log in using your Netflix credentials to watch your favorite shows and movies.  Similar to the regular interface.
• YouTube:  Log in or search and play videos without logging in.  Similar to the regular interface.
• Radio:  Using iTunes Radio, browse and play thousands of streaming stations worldwide.
• flickr:  Log in or browse millions of photos.
• Trailers:  Watch trailers of new movie releases in the theatres.
• MLB.tv:  Watch every 2013 regular season game LIVE or on demand on your Apple TV.  Mostly subscription based but some are free to watch.  Summary.
• NHL:  Watch Live NHL® Hockey on Your Apple TV.  Summary.
• Vimeo:  Browse and play Vimeo videos.
• Podcasts:  Browse and play hundreds of podcasts.  I browsed for EVGA and their channel showed up with all of their podcasts with the latest being the GTX 780.
• Photo Stream: With My Photo Stream, when you take a photo on one device, it automatically appears on all of your other devices. For additional information on sharing your photos with family and friends, see the iCloud Photo Sharing FAQ.
• WSJ Live:  Watch WSJ live and previously recorded shows.
• Apple Events:  Watch Apple’s most recent keynote presentations and product announcements.
• iTunes Festival:  The app provides artist information, news, and schedules for the acts performing at this year's festival in London.  Users of the app will have the ability to stream some performance as they are happening, while other performances will be reserved for later download. Users on iTunes and Apple TV owners will also have the opportunity to watch gigs in high definition.
• Vevo:  Log in and/or browse and watch hundreds of music videos.
• Qello:  Subscribe ($5 per month) and log in to watch the largest collection of concerts and music documentaries in high definition.
• Crunchroll:  Subscribe or watch a sample of the best in Anime and Asian drama.

 
Note:  If you lose the remote and buy another, you won't have to pair it with the primary device.  It will automatically work with it.
 
FIGURE 1 (http://imageshack.us/a/img13/1396/2oox.jpg)

 
FIGURE 2 (http://img202.imageshack.us/img202/7374/1l5f.jpg)

 
FIGURE 3 (http://img541.imageshack.us/img541/4152/3vw7.jpg)

 
FIGURE 4 (http://img546.imageshack.us/img546/3006/751b.jpg)

 
FIGURE 5 (http://img837.imageshack.us/img837/7532/s1ii.jpg)

 
FIGURE 6 (http://img855.imageshack.us/img855/6763/1wfr.jpg)