AppleTV -
Once iTunes is updated, software updates to support subscriptions will ripple to AppleTV. If a subscription service is announced, aTV will never get Netflix support (note: netflix having its own troubles with networks and Starz deal)
Faster processor, larger hard drive, more RAM, blu-ray nice but probably won’t happen (It should though).
iPhone OS 4.0 as described by others. Expanded multi-function (tablet will be multi-function), interface changes, better home screen navigation.
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