Last year, in a note to clients, Piper Jaffray analyst Gene Munster predicted that Apple would update the Apple TV in the next several both in hardware and software this year. He thinks the hardware will be updated to include a live TV signal and DVR features. Munster is also anticipating an iTunes subscription service for US$30-$40 per month. That fee would be for all-access to Apple's TV show library.

I like all those ideas, and think they're possible. On the other hand, the DVR feature might not be added as Apple isn't keen on the idea that you might possibly get content from anyone other than them. However, with over-the-air HD programming and the iTunes store, an Apple TV DVR could be a terrific alternative to a cable subscription: get free TV and Internet-based programming for free, and buy the individual cable shows you want. Then not make it where recorded shows then sync with Macs, iPhones and iPods over a wireless network?

Barring that -- and much more likely -- I think we'll see the iTunes subscription service. According to a flurry of reports in late 2009, Apple wants to allow consumers to access iTunes’ full complement of cable and broadcast network-based shows -- currently offered on an individual basis for US$1.99 for a standard signal and $2.99 for a HD feed -- for a flat monthly subscription, perhaps as low as 30 bucks per month.

Other things I'd like to see if Apple TV, Take Three, ever arrives:

° The ability to attach an external hard drive for more storage;

° Support for true 1080i;

° Outputs to drive surround sound channels;

° Opening it up for developers, so Boxee (as well as other apps) can easily be installed;

I'd also like an Apple TV "Pro" or some high-end model that has a built-in DVD player (or better yet, a Blu-ray player) so I could eliminate another device from my plethora of living room devices. But that's probably not going to happen since -- again -- Apple wants you to buy content or rent content from iTunes.

Then there's the talk that the Apple TV will evolve into a gaming system (or at least add that functionality). I kind of like that idea, which makes a lot more sense than the rumors that Apple will release a separate game console.

But, c'mon, Apple, do something with this device. The Apple TV has potential and the promise of being much more than a hobby. If not Jan. 26/27, here's hoping we'll see an Apple TV special event in the not-too-distant future.