"These are a few of my favorite things" #3 - AirPlay + Apple TV etc.
So this isn't one thing, but instead a system of interconnected gizmos:
At the heart of the system is the Apple TV, which can stream content from Netflix, Hulu, and dowload TV shows and movies from iTunes. But more importantly, it can receive content from your iPhone, iPad, and Mac (assuming that Mac is relatively new, running OS 10.8 "Mountain Lion") via Airplay and play it back on your TV. This means that anything that's on your Apple phone, tablet, or computer can be easily sent to a large display.* Also in the mix is my Denon receiver, which is also Airplay enabled, along with a series of Airport Express units connected to speakers in each room. So music from any of these devices can be piped directly into the stereo or any room in the house. Along with a big music library and Spotify subscription, this means you can listen to whatever you want, wherever you want.
*I can report that AirPlay is awesome for teaching (especially seminar classes) since you can project PDFs to the overhead projector in a classroom...