Now that AppleTV is coming out, will Apple update the videos on iTunes Music Store to HD resolutions such as 720p or 1080p? It really must suck to have an AppleTV that supports HD content but, nowhere to get the HD content unless you can rip it from an HDDVD or BlueRay disc which I'm not even sure is possible yet, plus you'd need an HDDVD drive or BlueRay drive (which are really expensive right now anyway). I mean, if Apple's not going to update the resolutions on the iTunes Music Store, you could just plug an iPod into your TV to watch iTMS content. I don't see the point of AppleTV without HD quality.
A few points:
1) Apple TV can only decode up to 720p, which ironically is the resolution that the vast majority of HDTV owners have (although I use a 1080p panel, personally).
2) You /can/ rip content from Blu-Ray and HD-DVD today. The catch is that it doesn't work under OS X at all yet (mostly thanks to Roxio's incomplete UDF 2.5 driver), and not all movies can be re-encoded for iTunes.
3) The iPod's only output is S-Video, which while capable for the current crop of video, will not 'scale' to newer content in the future. Apple TV can support 720p today, and when 720p content becomes more readily available, it will be able to play it, without having to buy a new device.
And as of right now, I have 5 movies in 720p ripped and in the middle of converting for iTunes, with 11 more waiting for re-encoding tools to mature a bit.