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Engadget's got a hot rumor about the next iteration of Apple TV: basically, it'll be a screenless iPhone that can pump out 1080p video. It'll have the same guts as the upcoming iPhone, with 16GB of flash memory and only a couple of ports.
So what will it do? Well, it'll rely heavily on the cloud, so not much video will actually be stored on it. Instead, it'll stream video from the internet or, if you want, from your computer. And the whole thing will run the iPhone OS. And all this will cost $99.
What do you think? How does this compare to Google TV for you?