movableLeron: Apple: Keynote thoughts:

“That said, I think the all-in-one portable multimedia device has some incredible limitations; Mainly, Content. It’s easy as pie to get high-quality digital music online and onto your iPod. Try doing the same with a movie or a TV show. It’s just not *easy* enough.”

An excellent point! Not only is demand going to be limited (how many hours a day are you really going to be willing and able to view video on a 4″ diagonal screen), but it is going to be a pain to get any content worth watching.