The Design and Implementation of laffer1

http://blogs.business2.com/utilitybelt/2007/06/apple_tv_costs_.html

Short version:
512MB ram
Intel Pentium M 1Ghz (custom)
Broadcom wireless
Realtec audio and NIC
Fujitsu 40 GB 4200 RPM drive (reminds me of my iBook's original)
36 watt power supply