Does the PS3 pretty much do everything one needs for movie and TV downloads? Seems nice to get a blu-ray player for only a bit more than Apple TV alone.
That all depends on what you need :)
Contributor to The Absolute Sound, EnjoytheMusic.com, Vintage Guitar Magazine, and other fine publications
Can I use it with Netflix? Apparently yes.
Can I download HD movies?
Can I download TV episodes?
Does the system used in each case have a selection that is competitive with the best services?