Kudos to AwkwardTV: I successfully followed their instructions to replace an AppleTV hard drive when ours began to fail recently. (After 2 1/2 years of constant drive spinning, it’s not too surprising.)
For less than $100 ($120 including tools), I’ve now got a 320GB AppleTV. Took less than 90 minutes, including diagnosing the dodgy USB cable, excluding both time to pick up the parts and to resync my content.
For contrast, paying someone else to replace the drive would cost $180 and take as long as round-trip shipping via UPS ground.