Rudegar,
I don't mean to quibble here but I think there may be some exceptions, at least in the US. I agree with most of what you have indicated but I think movies and maybe TV shows could be a problem. I am pretty sure that they require authentication by Apple, even if residing locally, to ensure the viewer is authorized to view the media. I have heard of people unable to watch local media on devices during a power outage, because their LAN is down which prevents the device from getting out to authenticate with Apple.
To add to this, I have three screen shots which call this into question:
#1- Please note that this indicates that sharing is "ON" for this laptop yet, I can tell you for a fact that it cannot be seen by other devices on my network (via iTunes or A-TV).

#2- Please note that I am required to "turn on" the already "On" sharing under the FILE menu

#3- Once I choose to turn sharing "on" through the FILE menu, I am presented with this screen which clearly does require an Apple ID

Now my concern is that if @margburnett, the OP, would change the A-TV Apple ID to match the one used for home sharing he/she would lose access to the media purchased through the original Apple ID account. This has become a big issue, how to move media from one Apple ID to another, when people change their Apple ID or when couples split.
Hope this helps,
Bill