A few months back rumors that Apple had a new Apple TV in development hit the internet. This was thanks to an FCC filing revealing an Apple TV with a smaller A5 processor. Guess what? It’s already available. We just didn’t see it.
The update was minor. Many thought that the smaller A5 processor meant a slightly smaller set-top box. However, it’s nothing more than a slightly smaller processor. The performance is the same, and the box looks exactly like it did last year. The only difference is a smaller power draw.
There are other things that a smaller chip can bring, as Ars Points out. For one, it can mean that devices will actually be smaller. For instance, the iPad mini, or thinner regular-sized iPad. You can read their more detailed assessment here. It’s an interesting read, but it’s a bit lengthy.