We didn't need to review the new $299 2TB Time Capsule to know that Apple had restored the competitiveness of its wireless router/NAS drive combo device with a better gigabyte-per-dollar ratio. What we couldn't tell from the spec sheet was that Apple has also dramatically increased the Time Capsule's wireless networking performance. Our tests show that not only is the new version faster than the old model, it now ranks among the speediest routers on the market.
The hard-drive read and write speeds in the 2TB model at least (we didn't bother with the overpriced 3TB version) are more than twice as fast as those of the 2009 model as well, but the Time Capsule is less competitive here when compared with traditional NAS (network-attached storage) devices. It can write at similar speeds, but its read performance is slow. For that reason, we wouldn't recommend the Time Capsule in places where you need to transfer large files between systems often, and as usual a lack of network configuration options will frustrate those who need them, but as a router and network storage device for typical consumers, the new Time Capsule offers a compelling deal.