Greatwhitebat, Apple TV converts 44.1kHz to 48kHz (native HD format) loosing sound quality on the conversion. Read this:
http://www.appledystopia.com/bad-apple/apple-tv-poor-audio-quality/
You have other options - one of them is Airport Express. It has horrible jitter artifacts if you use analog outputs but decent 258ps peak-peak jitter with Toslink out. This jitter would still be audible (it is audible above 50ps peak-peak), hence you need reclocker with it. Steve Nudgent highly recommends Sonos. Either way, I would buy reclocker (he makes one) because it is good thing to have, and would replace Apple TV, possibly with Sonos. Rate conversion can be done nicely (my Benchmark DAC1 does it) but Apple TV implementation produces loss of audio quality.
http://www.appledystopia.com/bad-apple/apple-tv-poor-audio-quality/
You have other options - one of them is Airport Express. It has horrible jitter artifacts if you use analog outputs but decent 258ps peak-peak jitter with Toslink out. This jitter would still be audible (it is audible above 50ps peak-peak), hence you need reclocker with it. Steve Nudgent highly recommends Sonos. Either way, I would buy reclocker (he makes one) because it is good thing to have, and would replace Apple TV, possibly with Sonos. Rate conversion can be done nicely (my Benchmark DAC1 does it) but Apple TV implementation produces loss of audio quality.