The 1st Version of the AppleTV came with a 40GB HDD
The iPhone 3GS comes with 32GB SSD

The AppleTV supports H.264 video 1280 by 720 pixels at 24 fps, 960 by 540 pixels at 30 fps with AAC-LC audio up to 160 Kbps in .m4v, .mp4, and .mov file formats
The iPhone 3GS supports H.264 video, 640 by 480 pixels at 30 fps second, with AAC-LC audio up to 160 Kbps in .m4v, .mp4, and .mov file formats

The AppleTV supports AAC, protected AAC, MP3, MP3 VBR; Apple Lossless; AIFF; WAV; Dolby Digital 5.1 surround sound pass-through
The iPhone 3GS supports AAC, Protected AAC, MP3, MP3 VBR, Audible (formats 2, 3, and 4), Apple Lossless, AIFF, and WAV

The AppleTV supports JPEG, BMP, GIF, TIFF, PNG
The iPhone 3GS supports JPG, GIF, TIFF


Overall the 3GS seems to be pretty even against the 1st gen ATV, so wouldn't it be awesome if Apple would port Front Row to the iPhone 3GS? I mean the iPhone could be used to wireless connect to an iTunes Server to Display SD Video on an TV or to play music from an remote iTunes Libary. Wouldn't that rock ? Or it could be used to display all your photos the same beautiful way the ATV does it. What do you think ? Is Apple working on something like this ? Hopefully definitly !