You might consider something like a Roku or even the Xbox 360. I've seen apple TV products and they truly are overpriced IMO.
I'm certainly not going to allow some loud, obnoxious video game machine into my home! Besides, for the bedroom I don't need anything video, because there's no TV there.
I also don't see how you can say the ATV is overpriced. For just $100 it lets us stream all of our music, movies, and photos from our Macs and iPhones (we have no lesser machines in our home) or our iCloud, and listen to internet radio and stream Netflix. We can also use our iPhones to enter in data, such as Netflix searches.
And unlike the AirPort Express that I had been using in the bedroom (which has a wireless router, too, but we don't need that because we have an Apple Time Capsule handling routing) the ATV runs fairly cool. The APE just doesn't last more than two years before the PS goes pop from overheating. I'd go so far as to say that the ATV is the best source box out there, at any price!
Do you know of another device that does all that for $100? The Xbox, as mentioned above is (a) more expensive, and (b) would never worm its way into my home. The Roku is marginally cheaper (seems like $80 for equivalent streaming functionality to the ATV3) but mentions nothing about what I'd actually need for the bedroom, which is AirPlay compatibility.
The next cheapest new box of which I know that offers the functionality I require is a Mac Mini, at 6x the price or more. If there is a cheaper option that has AirPlay compatibility and a stereo audio out, I'd consider it. I do know that having to hook a computer or phone up to the Picoforte with an analog stereo interconnect is not a viable long-term solution. (Yes, we're that lazy. Also, the kittens have a special appetite for 1/8"-1/8" wires...)
So it seems like the best option for someone in my shoes is to buy an ATV3 for the living room, and move the ATV2 current there to the bedroom, along with a cheap Monoprice DAC to interface with the little stereo setup in there (KEF Picoforte iPod dock driving Tannoy Arena satellites and feeding a DIY sub based on the Peerless XLS12 Application Note).