I've been using the AirPlay feature with iOS 5 and I really like it. The one thing I wish you could do is configure the app so that a 16x9 video feed expands to fill the entirety of a 16x9 TV screen.
I know that it may not be easy to do, because AirPlay supposedly just mirrors the 4x3 iPad screen. But I have seen it done by other companies, most notably EA Sports with their video games.
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