Here’s how to setup AirPlay Mirroring:
1. Install iOS 5 on both your iPad 2 and Apple TV 2 (developer account required).
2. Turn on your Apple TV 2. Double tap the Home button on your iPad 2, and swipe to the right (where the volume/brightness controls are).
3. Tap the AirPlay icon, and select your Apple TV. A toggle will appear for “Mirroring”. Turn this ON, and magically your iPad’s homescreen will now be streaming to your Apple TV 2 wirelessly!
Notice the status bar becomes blue at the top of your iPad to indicate AirPlay Mirroring is active, along with the AirPlay icon:
There is barely any lag, and this feature works amazingly well. If you have a widescreen TV, you’ll notice black bars at the sides due to the iPads 4:3 ratio. Nonetheless, this is one cool feature!