I know this is iTunes library centric right now where it will play your h.264/mp4 files out of iTunes, but I feel like that is a step backwards if I were to buy this. Right now, on my iPhone 4, I can stream any format video from my computer, from avi to mkv, and it will live-convert while sending it over the air in real time. With the component cable from Apple, I output the 720p video to my HDTV and it looks great. Since this thing runs a modified iOS, there MUST be a way to shoehorn Air Video capabilities onto it. It takes zero extra processing power and no storage (other than 10mb for the app) on the iOS device's side of things. Anyone else thinking the same thing? I feel that without storage it's gonna be a fun year full of "Micro USB port for service and support only" jailbreaking, heh.