Ok, I'll try to explain it so even Senior Technical Support at Apple will understand it 😉 : The ATV2 can't output 24 Hz (actually 23.976) and has to do a pulldown (conversion) to 50 or 60 Hz. Since 50 and 60 is not divisible by 24, the ATV2 has to double some frames. The extra frames is causing stutter.
A simple question to ask Apple would be: "Can the ATV2 output 720p@24hz?" If the answer is "no" (which it is), then it has to do do a pulldown, hence: stutter. There's nothing to deny, that is how it works.
The problem is complicated by a number of facors:
1. The real problem is that Apple do not consider stutter a problem, because "that is how the ATV2 works". They have not specified that the ATV2 is capable of 24 Hz output so there is no spoon, eh, problem. Stutter is a feature you get when you buy an ATV2.
IF there would have been a way to make the ATV2 stutter-free, to ouput 720p@24Hz, Apple would have implemented this in a firmware update a looooong time ago. But I don't think that it's possible on the current hardware platform.
2. Most people wont even notice stutter, the're used to seeing it. All NTSC DVD:s have the same problem: not many are complaining.
3. Some TV:s can actually remove the stutter! I've had a Toshiba LCD that could do a reverse 3:2 pulldown and remove the extra frames, restoring the original 24 movie frames. It was like magic: all my imported NTSC DVDs (I live in Euro-land) was suddenly stutter-free. I now have a Pioneer plasma that unfortunately can't remove stutter.
So, the ATV2 is not a very good mediaplayer when it comes to movies; any cheapo player from WD-TV, Tvix, Netgear, Xstreamer can output 24p@24Hz these days, so if you want stutter-free movies, wait for ATV3 or look elsewhere.