The direct connection for speakers is nice, but I guess I feel like it could have been accomplished for under $200 - considering that I can order a 100-watt receiver for under $100.
Granted, Google has put in 1GB of RAM (vs 512MB in the Apple TV) and a dual-core processor (vs. the single-core Apple TV), but does that translate into anything? The Apple TV handles 1080p video (including high profile H.264).
I guess I'm just left wondering why it's costing so much - especially considering that the Nexus 7 has a quad-core processor, 1GB of RAM, a battery, and a screen for $100 less.