Even in the New Year, those iTV rumors just won’t quit. The latest word is that Jony Ive has been working on a 42- to 50-inch Apple television in his secret Cupertino design studio; probably the Siri-controlled Apple HDTV the whole industry has been quaking over for the last few months.

Apple is planning a media event in New York this month, according to AllThingsD. While we shouldn’t expect to see the iPad 3 or a new Apple TV, AllThingsD’s usually-reliable sources have indicated the event will be “important,” but not “large-scale.”

Apple’s iCloud exec, Eddy Cue, is expected to show at the event in late Janurary. The last time Cue took the stage in New York was to help launch the iPad-only magazine by News Corp called The Daily.

A famous Apple campaign goes: “Here’s to the crazy ones.” Of course the crazy ones usually get institutionalized. And that’s exactly what has happened to Apple. It seems that in recent weeks, Apple has been or announced plans to be, institutionalized.

Apple, which represents the newest of the new, both aesthetically and technologically, is embracing the old. Here’s what I’m talking about.

Like its iPhone, iPad, and iPod touch which utilize the company’s A4 and A5 processors, Apple’s upcoming television set will be powered by a custom-built chip made specifically for the Cupertino company. Sources claim that a number of manufacturers are currently bidding for Apple’s order, including Taiwan Semiconductor Manufacturing Company (TSMC), Advanced Semiconductor Engineering (ASE), and Siliconware Precision Industries (SPIL).

Wow! 2011 has been one of the most interesting years in recent memory for Apple Inc. Of course the death of Apple’s co-founder, Steve Jobs, stands out as one of the most important events of the year for Apple, but there have been a load of other stories too that have made 2011 a very memorable year for the fruit company. From one controversy to the next, to record-breaking earnings, and new products, Apple has plowed through 2011 with a steady determination to be the best technology company on the planet. Only one device underwent a redesign (the iPad), while other form factors stayed the same. Instead of focusing on making pivotal leaps forward with hardware, Apple’s main focus of 2011 was to fortify their strong foundation in the software game.

Here’s Cult of Mac’s look back on the Apple in the year 2011.

Westboro Baptist Church vs. Cupertino

We could subtitle this the “Steve Jobs” edition, his death in October gave rise to any number of oddball tributes and events. The most disturbing? The hatefulcrazy congregation of Westboro Baptist Church staged a series of protests in an attempt to mar Jobs memorials held in Apple’s home town on Oct. 19. The Kansas-based group announced via iPhone that they would stage a hate fest. True to form, they held up their nasty banners outside the Apple campus and at Cupertino High but were met with counter protesters determined not to let them ruin the day.

Santa has come and gone on his sleigh, and Apple has profited along the way. A survey from Ace Metrix, a TV ad analysis firm, has revealed that Apple’s Santa Siri commercial beat out 34 other Santa-themed spots to win the crown of most effective ad for the 2011 holiday season.

Apple’s commercial, featuring Santa and the iPhone 4S’s Siri assistant, scored a 652 out of a possible 950 points in Ace Metrix’s survey, topping competitors like Pillsbury, Coca-Cola, and Nintendo.

In September of 2010, I wrote a column in this space deflating the idea that Apple would ever make and sell a wristwatch.

I still think my reasoning was sound. But I didn’t know then what I know now. Specifically, two Apple technologies have become central to Apple’s long-term strategy. These two products — Siri and iCloud — change everything.

And because of this new information, plus a few new things we’ve learned about Apple in the past year, I’m completely reversing my opinion. I now believe the current rumors that Apple is getting into the wristwatch business.

I even think we can accurately imagine what Apple is likely to do in the wristwatch department.

In a collaboration with Macrumors, CiccareseDesign has produced a papercraft mockup of what the rumored 7.85-inch iPad Mini would look like… and you can even print it out and hold it in your hands yourself.

Apple recently seeded a second revision of its iOS 5.0.1 firmware, and besides decrypting key files that aid in the legality of a Siri port, the update seemed to bring nothing new to the table. Some speculated that the second update had something to do with Apple’s continued international rollout of the iPhone 4S.

It turns out that the new iOS 5.0.1 (Build 9A406) is meant to fix SIM-related errors that a limited number of iPhone 4S customers have been experiencing.