Love mine. They are really useful.
Now I do have other Apple kit, phone, iPad, mac to get the most out of Apple TV you do need one of those.
For example I watch midweek mini movies and redbull tv coverage of the mtb downhill with a combination of my phone and Apple TV, instead of the small phone screen the content is sent to the tv – full screen magnificent.
Now you can use Apple TV to watch YouTube and Vimeo content, it work best if you have an account and have set up your own feed. You can rent movies direct onto the apple tv as well for example. You can play your music through the tv / speakers (eg from iPhone). You can look at your photos (via iCloud, Flikr). You can watch movies held on your pc/mac on the tv. The iPhone and iPad support “mirroring” with apple tv so the tv acts as a “repeater” of device screen, I find this useful for browsing web using tv, reading email etc.
Version – just get whatever they are selling, mine are a couple of years old and work very well.