The second generation AppleTV software is now available, so feel free to update your units as soon as you can. In return for you time, you’ll get a whole bunch of new features such as movie rentals, Flickr and .Mac support, and the ability to work the thing without connecting it to a computer.

Update: Looks like plenty of people are having luck with the update, so good on them. No word on how this will affect your hacked Apple TV yet, so you might want to hold off until braver souls sort it all out.

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