I am waiting for the Sling Catcher from Sling Media. I have an AppleTV that I distribute to my PC via the Sling Windows client. When the Sling Catcher ships, it will allow me to distrbute the AppleTV from the Sling Box to any TV equipped with Sling Catcher.
The definite benefit is that I will be able to control it via IT. It is all wireless as well so a possible additional benefit here. Finally, whether downgrading component to composite via the adapter box or any other device, picture quality will suffer, and to make matters worse the video quality of the AppleTV is not great. The fact is that in my case AppleTV really mostly a music server.
While final judgement must be reserved until the Sling Catcher ships, I think it holds some promise. BTW, no ship date yet, but Engadget reported the device as appearing on the FCC's website. Generally a good sign.