Although there are around 9,000 music videos available to buy from the iTunes store at the moment, you can't buy proper movies yet like you can in the States. We wouldn't worry too much about it, though -- this facility is promised for later this year, but the quality of the movies won't be amazing.
Americans can only buy clips sized at 640x480 pixels -- great for an iPod, but not so hot when it comes to displaying on a TV. We were shown a clip bought in the US from Pirates of the Caribbean: Dead Man's Chest. Apple TV did a fine job of making the small video look decent, but the quality was a long way from high definition, or even DVD to be honest.
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