There's two schools of thought...the multi format crowd that likes to quick rip, store and playback everything, and the crowd that rips and converts all of their media to one video and one audio format. I'm of the latter, using iTune MP4 with carefully catalogued and encoded movies that work best on my displays. While encoding and tagging might seem like a lot of work, in the end I found it to be well worth the effort. It offers me the luxury of a very simple and stable playback system with ATVs and Airports with unrivaled control using iDevices. And now with 1080p on the ATV3, I find little reason to look towards the boutique players with buggy firmware and quirky, complicated GUIs. Some of course will hold fast to their mega format devices, but I predict the ATV3 will quickly engulf the market share as the Apple AirPlay and Homeshare system offers a combination that others simply can't.