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Let's count my Apple TV's, shall we? There are two in the gym (an original first-generation unit and a second-gen hockey puck). There's a third Apple TV attached to the entertainment center.
I hacked the first-gen unit and installed XBMC on it. We use it to watch video and play tunes from our media tank. I use it when on the treadmill, but I tend to like quiet when lifting. The second-gen unit in the gym is tuned to my wife's Netflix account, and she watches that when exercising.
I've been persuaded not to hack the current-gen Apple TV in the media center rack, especially since I have a nice XBMC-running Windows 8 machine already in the rack.
I don't watch much iTunes video on the media center Apple TV, but my wife and I use it constantly to watch Netflix. So far, the very best Netflix interface we've seen is on the Apple TV. For ninety-nine bucks and a Netflix subscription, it's a heck of a lot of entertainment that's hard to beat.
Product page: Apple TV