AppleTV:

Likes:
Small
Relatively Inexpensive
Has HDMI out
Intuitive interface
Syncs to 40 GB local drive
Portable

Dislikes:
Needs new Airport or needs hardwire
No DVD playback
No DVR
No native media acquisition (Ways to buy content directly on the device)
iTunes software is too bulky but required for use
Minor dislike, no 1080p support

Unknowns:
Can if be user upgraded to more disc space?
Will it support third party apps?
Does iTunes store sell 720p content?
Will it support other file formats?
Can the Mac Mini do the same thing?

Summary:
Great device for someone already deep in the iTunes ecosystem
Great device for novice user looking to move from their mac to their tv
Not great for people with collection of videos in other formats
Overall a very good device for a good price

Apple iPhone:

Likes:
Large screen for web browsing and video
Seemingly intuitive interface
Sleek design
Powerful architecture
IMAP and POP3 email support
Multitasking support
320×480 resolution

Dislikes:
No 3G means slow internet (given the price!?!?)
Cingular partnership – ulterior motifs, will want to charge for basic services like SMS rather than using iChat
On screen keyboard has no tactile feel and is an x-factor
More screen means more grease to clean off
Expensive even with 2-year contract
Battery life will probably suck when using multiple features like wifi and bluetooth
No existing ecosystem so current apps dont work
No IM (iChat), likely due to opposition from Cingular

Unknowns:
Do current widgets work?
Is it easy to develop for?
Does it need memory management like Pocket PC?
How many hours of video will it hold?
What is the battery life of video playback?
Coverflow, is it necessary or just eye candy? (Don’t answer, it’s rhetorical.)
Will the accelerometer work when you are laying down or sideways?
Whats the camera for besides stills and video capture? Can it work with iChat in the future somehow?
How powerful is it? CPU type, RAM/ROM capacity?

Summary:
great technological breakthrough
Very innovative industrial design as well as software design
Does not have the magical formula (Magical formula will entail 3G)
Needs to be field tested for real world usability.
Too expensive for the regular user. (And no, it’s not like the original iPod kinda pricey. Much more than that.)
Not enough storage especially for the price.
Powerful processor and features that will likely be enhanced in the future.
Very democratically designed by involving various tech giants (best of breed Web apps from Google and Yahoo)