I recently upgraded my parents' AppleTV using the ATV Flash. It's essentially just a collection of the hacks that are already out there, but much more manageable. In the end all the real "hacking" is done for you.
There is
bad blood between the ATV Flash people and the actual authors of the software and procedures that it uses.
It isn't difficult to make your own patchstick if you have an Intel Mac. Follow the numerous guides available. If you want to blow $50 then donate it to one of the software authors or send it to your favourite charity.
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