Apple’s music event on September 1st brought great news to home theater enthusiasts with the release of a new Apple TV. The new Apple TV boasts a stripped down form factor about ¼ the size of older models. This is in part because there is no longer local storage and Apple has stripped down the A/V ports to just an HDMI and Optical audio jack.In terms of functionality, the new Apple TV works as a streaming only device. Therefore, there’s no longer a need to worry about managing storage or syncing an iTunes library. Movies and shows are streamed directly from iTunes as rentals. In addition, Netflix streaming service is now supported with this new model. The best part, is that there’s still the ability to wirelessly stream music, video and photos from your computer at blazing speeds.The Apple TV is scheduled to go on sale in September, with a starting pricepoint of $99.