Apple is make a joke on this, aren't they?
For me personally, the AirPlay was the Key Feature for the upgrade to Mountain Lion.
Not I tried and searched, updated my ATV and... still not working. Until I found out that my iMac ist "too old" for this feature... WHAT? Come on guys... AirPlay mirroring... This isn't something you need the latest HW and most powerfull CPU (or whatever).
My iMac is just 2 years old (Mid 2010), with i7 processor, still one of the fastest around... and Apple thinks it is not "good enough" for AirPlay. Sorry, this is rediculous!
By the way, even 3rd party Apps provide AirPlay for ANY (unfortunately up to now without audio, so not a real alternative).
Now I've spend 15 Euro for... nothing. The rest Cloud-bases "features" are absolutely not interesting for me.
Honestly... Apple has to fix this, this will annoy many, many Customers with really up to date hardware...
To be fair... I absolutely understand, that espacially on iOS, some features are not available on "older" devices due to low CPU power (and also low memory). But this can't an argument for not enabling AirPlay for quite new Macs...