Can I set up an Apple TV to receive content from a Synology NAS? I have a Synology DS210j NAS. My music and movies are served from the NAS by its built-in iTunes server. The content is then available on my MacBook in iTunes / Sharing Library.

I am looking for a way to set up an audio system in my apartment that doesn't need my MacBook. The content would come from the NAS (served by the iTunes server).

I'd like to buy a 2nd generation AppleTV to receive the content and then use iPhone's Remote app to control it. I also thought about extending this setup with AirPlay speakers (probably with an Airport Express) which would allow me to control the music separately in every room.

Would such a setup work? Can an AppleTV receive content from the NAS/iTunes server? If not, what are the alternatives?
Watch Erica Sadun's AirFlick project. It can do what you want from a host running Mac OS X, so one would expect a GUI-less version to appear soon that could be ported to your NAS.