Welp, this certainly looks like a video iPod, doesn't it? Thinksecret is speculating that it's more video-ready, proof-of-concept than an annoucement that Apple is going to start selling movies today as well. Instead they think there's going to be a 'true' video iPod in 2006 that comes in a different (more PSP-like?) format.

Which gets me to wondering... The Pippen (Apple's prototype gaming console) never picked up, but could they be considering moving into the portable game console market? They apparently hired game programmers a while back; it's beginning to look like this wasn't to get games on Powermacs but on an upcoming version of the iPod.