A new report reveals some new details on the Apple TV. At first there was just news of a new version of the Apple TV which would retail at $99 and have hardware that was similar to the iPhone 4. It also will support an iTunes streaming service that should certainly make syncing up libraries across the house much easier. The details on the hardware tell of an A4 CPU and the device having 16GB of flash storage.
Engadget's trusted source also just released a few more details, of which all aren't particularly pleasing. The new Apple TV, or now named iTV to join its Apple iCousins, will not support 1080p or 1080i video playback; just 720p. Reportedly this is from claims that the A4 can not handle these higher resolutions, but as a TV product it does not make much sense. On a positive note, the iTV will be featuring the ability to use apps on your TV. How these will be controlled and used is not clear at the present time, but one might think of Xbox 360's Facebook, Twitter, or last.fm features to name a few possibilities. Others wonder if they will have the ability to run iPhone/iPad apps on the iTV as well; however, since your TV isn't touch screen that isn't likely.
Hopefully for Apple the 1080p loss won't be too poorly taken by the community, or at least overshadowed by the addiction of apps. The iTV is expected to be displayed in the Fall, so get the popcorn ready!