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Originally Posted by ErichH
Let's see - a 230 box that allows me 24 hours to view a 720p flick for 5 bucks. Hmm or I can buy a 1080p BD for 10-12-15 bucks and watch it forever. Hmm or I can own 16-18 BDs for the cost of the box and 10 rentals Hmm ?
OK, I said this thing was a dead piece of gear many times, and yet Apple has a Zombie fetish - it's back from the dead (IMO at least)
I know I know - some of you guys like it

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Unfair comparison. You're not including the price of the BD player. Let's just say the cost of the BD player & the ATV cancel each other out.
Now. Where are you getting your BDs at 10-15 bucks?? 20-30 is more like it - unless you're talking BOGO sales, which aren't going to be around forever.
You're basically at the same rent vs. buy decision that's always been out there. Some flicks you want to own. Some you only want to watch once. For the latter, I'd rather pay $5 once than $20 and then have to hassle with eBay to sell it.
That said, Netflix is still the better deal for those who rent a lot of movies.
Different strokes for different folks.