Raspberry PI, good alternative to appple tv?

hi guys
im looking at getting a Pi as a media centre to use when im away from home rather than lugging the laptop about. Now i know i cant use netflix on it which is a bummer, but can i use all of the sports devil type of apps? im looking at getting one, putting the largest SD card it will take, and a wifi adapter, they seem like a good bit of kit and are small and quiet. Anyone have one running xbmc? any opinions

cheers guys