problem streaming movies from library after update to 5.0.1

Hi, I just updated my apple tv to 5.0.1 and after doing so it is unable to load/play my videos from my home library. It starts to do it but is v...e....r...y slow to load the video, as in, 1/2 hour has passed to get ready to play a 2 minute video and it still hasn't started yet. Purchased tv shows work fine. Netflix streams fine. I have restarted the apple tv, itunes, and my airport. Please help! Everything was working fine before the update. I have a first gen apple tv and the most recent version of itunes.