The new AppleTV might turn into an iPad accessory
ipadwatcher.com
ipadwatcher.com
To be honest, I don't see how the AppleTV complements the iPad at all. The new AppleTV is only for streaming content from the iTunes Store and from the Internet. If you want to rent and watch the same content on your iPad, you can do so directly without an AppleTV. If you want to watch the content on your TV, you need an AppleTV but not the iPad.
In my opinion that’s a nice gimmick – if you have $99 to spare why not? – but not much more.
I assume iTunes will still retain AirTunes/AirPlay/whatever as well, so your computer will also still be able to stream your "custom, imported and re-encoded" (i.e. pirated) media to the new Apple TV—but you'll be more likely to have brought your iPad to a friend's house than your laptop, if you didn't pre-plan watching some videos together.
[The iPad is great for entertaining one person, but sometimes you want a TV because you want to entertain more than one person. Apple TV lets your TV be entertaining, as Steve Jobs demoed yesterday. It's $99, which is cheaper than an iPad. Also, you can bore people with slideshows of your last fishing trip if you have both. Compared to the old price of $299, it's priced like an accessory, like my fuschia Fendi iPad carrier fanny pack.]