Updated last night, and the bags under my eyes can attest to the awesomeness of the update!
Being in australia, I wasn't able to rent anything, but I was able to subscribe and download several podcasts. It is just brilliant -- very well thought out. You can browse podcasts by provider (ie. CNet, Revision3, BBC, etc), genre or featured, or you can search for a specific podcast using the search tool. If you're into podcasting, I think it is definately worth the money.
If you're not podcast mad like me though, the rest of the device suffers similar issues as it always has. Namely, it is fussy about the formats, so if you have a collection of XviD, AVI or formats other than MP4 or H.264 you need to convert, and of course no TV tuner or DVD player. I still think APpleTV is a little ahead of its time -- the market just isn't large enough.
SOme nice extra surprises though, like 1080p playback (if it could do 1080p, why in the world wasn't it there to begin with??) and remote speaker support. This means you can use the AppleTV as a kind of airport express.