Dawhitestig

My choice would be Android TV with XBMC.  The only thing Apple TV can get you is to rent movies from iTune.  XBMC can do pretty much everything Apple TV can do (including Airplay) and more.  With XBMC, you can install all kind of plug-in which allow you to do YouTube, Netflix, Ice-film, PVR.  Oh, and the XBMC remote app for apple/android allows you to control XBMC and even browse thru your movie library for selection.
Sorry if I sounds like a saleman, and no, I don't make commission out of this. :)