The iPhone Dev Team has been able to jailbreak the new Apple TV using Shatter, the same tool used to jailbreak the newest iPod touch. The new Apple TV OS seems to be a combination of the old Apple TV OS and iOS. Once a jailbreak tool is released to the public, it could theoretically run anything that will run on the iPhone and iPad, including the Hulu Plus app. It has been discovered that the Apple TV has 8GB of storage and 256MB of RAM, making it a very nice toy for hackers.
The Apple TV firmware can be download from Apple and restored by connecting to iTunes with the Micro-USB port.
Source: Wired
