New Apple TV delivers 1080p, updated interface | Apple - CNET News: 1080p movies and TV shows from iTunes Store
Redesigned 1080p user interface
Ability to re-download purchased movies through iCloud
"Genius" recommendations for movies
Photo Stream resolution bumped up to 1080p
Single-core A5 chip
1080p output
The new Apple TV will be released on March 16 with the same $99 price as the existing model.
In a related news, Netflix is announcing that the new Apple TV hardware will be fully capable of 1080p Netflix streaming video, and that both 2nd-gen and the new Apple TV will now allow you to purchase Netflix subscriptions through your iTunes account.