I know it's not my Internet speed or anything on my end, because everything other than the apple tv movies are downloading quickly. It's just the Apple TV that is slow. I just did the recent update, could this be the culprit. I'm throwing this thing out the window. My Roku box works a zillion times better!
Have you verified the the speed using speedtest.net? It should be at least 8mbps for 1080P. If it's 720P then 6mbps. Sometimes ISPs throttle.
Have you checked for interference (istumbler or netstumbler)
Are you using your ISPs DNS
An update wouldn't cause this and it is often something on the network. Best not to assume and verify these things.