Simple ATV Hack (Software)?

[latapeze]

Is there anywhere to go to find a relatively simple software hack to get the ATV to output more video formats than shat iTunes can handle?
My wishful thinking is hoping for an image that I can use to access the ATV HD from the USB port, mount the drive, make the changes necessary (install codecs and some sort of addition to the menu to allow access to new movies and produce 5.1 sound.
Even if I could "stream" the content from my laptop over to ATV, that would be great.
Am I in the right ballpark or am I "whistling Dixie"?
Thanks.

[DxQ]

This is definitely a possibility, but it isn't as simple as mounting through the USB port.

Check out appletvhacks.net.

You'll either have to remove the drive from the aTV, plug it into your computer, and install plugins/codecs, or you'll have to install OS X to a USB drive, boot from the drive, and mod the internal drive from there.

[latapeze]

Wow. I just read some very well written and precise directions for booting from an external USB drive and making changes to the ATV drive that will allow for most of what I would like to accomplish but without knowledge of how to edit plists and use the terminal, I am at a loss as to how to get done what I need to get done.
When I used to hack the EPROM on Smartcards for Direct and Dish TV, I did not need to have any of the skills that I seem to need to mod the ATV.
I bet someone could make a reasonable amount of money if they could provide an image or some other simple way to make the changes we all desire. Even if folks could send their ATV's away to get modded, that might be an option.
Until then, I will keep learning and looking for ways to achieve what I seek to do.
Thanks.