I didn't get a lot of details about the computer-less apple tv, but the basic idea is that you can use the existing remote and the updated interface to go directly to itunes and download video content.
Now, about that MBA...
man it's cool! All of it's corners are rounded and all of its edges are beleved, and that, coupled with how danged thin it is gives it a very compact look and feel. (It's also very light.) The trackpad is HUGE and they've added more gestures to the trackpad's vocabulary. I liked the keyboard feel, the image quality is great. It kind of looks like a flying saucer, there's a little thingy that flips open to reveal the usb and dvi ports and the manner in which it opens adds to the whole flying saucer look.
They claim it does extended desktop, but alas, the $99 external drive is apparently not compatible with existing Mac notebooks - that seems like an error to me
Spot false dilemmas now, ask me how!
(If you're not on the edge, you're taking up too much room.)