I just installed 4.0.3
Everything is stuttering/pausing during play.
The audio will play in 10-20 second increments, then pause for 4/5 second and then continue.
Video does the same.
Also noticing video that was encoded with Handbrake seems to be constantly reloading during playback, as if it were streaming. All files are local on the appletv.
I have attempted to toggle off/on the h.264, did not help.
Perian is installed.