"The Digital Entertainer HD automatically discovers HD movies, TV shows, music files, and personal photos on a home network, across multiple computers, and organizes these into a single media library displayed on a TV without the need for media server software running on the computer. Users of the innovative Digital Entertainer HD can play HD movie downloads, including those from BitTorrent's new online marketplace, as well as stream HD movies and Internet videos to their TV from Web sites such as YouTube. The Digital Entertainer HD also accesses photos directly from Flickr without a computer. It enables music lovers to enjoy an improved audio experience by listening to their iTunes libraries and iPods on their home theater system. The Digital Entertainer HD even plays Internet radio directly and can access RSS news feeds and NOAA weather and maps."
To sum things up, this seems like it can do almost everything that the Apple TV can do, plus it has features like an RSS reader, weather reports, maps, and YouTube.