How does Apple's iTV work? What is it actually?

Can someone tell what iTV does?

Is it a peripjeral that I equip to my TV/cable box so I can stream any porgrams from any channel?

Do I need to have an iPod or other hardware as conjunctions?

Any subscription fees?

Many thanks!

Answer:
Think of it as a big ipod that you can connect to your TV.
The most typical use is: you sync (you can copy wirelessly) itunes from your PC to the box, then you play them using your TV. You can't stream other programs except what you own. No subscription required.

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