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Apple executives have frequently called the Apple TV a “hobby”—as much an acknowledgment of customers’ lackluster reaction to the set-top box as it is the amount of attention the company has devoted to the oft-overlooked product. But after Wednesday’s music-centric press event, Apple has begun to show signs of taking this particular hobby a little more seriously.

Apple events are a time to reflect, ponder, and, of course, baselessly speculate like there's no tomorrow in which reality will shatter those fragile ruminations. The truth is that nobody knows what Steve Jobs will announce when he takes the stage at San Francisco's Yerba Buena Center on Wednesday--not even Steve Jobs.

If the rumors are true, Apple is readying a video-streaming device that would replace its much-maligned Apple TV, a decent if somewhat limited set-top box. The new model, possibly named iTV, could debut as early as next month, although the box itself might not ship until later this year.