Now you can rent HD movies from Apple for $4.99. The high definition format is apparently 720p, which is upconverted to 1080p. The sound format is Dolby Digital 5.1 surround. The download takes forever though, unless you have cable internet or Verizon Fios (fiber optic). Apple claims that at 6mbsp you can start watching in a minute. At 2mbsp you’re looking at 2 hours. At dial-up speed forget it, you may as well go to bed.
If you don’t want to wait for HD, you can always download an SD version of the movie with stereo sound for $3.99. Download speed, unless you are on dial-up, isn’t a factor.
Apple TV is supported by all the major studios including Fox, Lionsgate, MGM, Miramax, New Line Cinema, Paramount, Sony, Touchstone Pictures, Universal, Disney and Warner Bros.