Apple iTV is primarily for viewing iTunes purchases

I just read a section of an article that unless proven false will keep an Apple iTV out of my household until Apple iTV 2.0 comes out at a minimum.

The O'Reilly Network article is entitled AppleTV? Not for me (yet) and it appears that there is a "lack of TV tuner and optical drive means that you still need an additional VCR, TiVo, DVD player, etc."

To me, this means that I could buy a much cheaper adapter that already exists to connect my Macbook to my current tv setup (which does not include HDTV in any way) and still view any video content from iTunes or my Macbook itself.

A hardcore electronics prosumer will probably not be able to stay away however since the Apple iTV may include some HDTV capabilities that mere mortals like myself can not yet appreciate or comprehend.

Peace!