The article suggests that the upcoming FCC-mandated analogue switch off for TV stations in the U.S. scheduled for February 17 gives Apple the perfect timing to unveil an updated ATV hardware and Take 3 software update.
They list 5 features they think the ATV3 will deliver:
5: Full HD and DVR capabilities
4: Built-in digital TV (ATSC) tuner
3: Built-in Time Capsule and AirPort Extreme
2: Premium TV channels via iTS
1: The App Store
The ability to pause live DTV and go back in time, schedule and transfer recordings via/to the iPhone for on-the-go control and viewing, playing casual games and managing iTunes libraries on the device would help put "TV" into ATV - and add home media server functionality. Apple could really take all of aforementioned ideas even one step further by enabling iChat video conferencing, IM, email and web surfing, all while watching live TV with notifications unobtrusively overlaid as the evening news shows story-related pop-ups, over-the-shoulder and paint messages. MobileMe could also easily push contacts, calendars and email to ATV3, while the iPhone might double as a Wi-Fi ATV3 remote via an upgraded Remote application.