No light versions here - this is the real thing.
The biggest problem with the Apple TV is that there's not actually that much you can do with it. You can buy movies from iTunes, watch movies from Netflix or... rent movies from iTunes. It's a pretty sad little device.
But if you jailbreak it, you can turn it into something much better. XBMC, once famous for turning your Xbox into an impressive media playing machine, is finally available for the new Apple TV. You'll have to do a little bit of hacking, but once you do, gone forever are the file type restrictions and limited playback capacity of Apple's box.
Owners of iPhones and iPads are in luck too, since the XBMC is now available for those devices as well. It's a big day for XBMC, and an even bigger day for iPhone, iPad and Apple TV owners.