Oh, video streaming works, but not video taken with a 4 (and presumably a 3GS) w/o an intermediary import to a Mac, PC, or perhaps another other iOS device. Not a deal-breaker for me. I'm primarily interested, in order of importance, streaming from iPhone/iPad: music, photos, audio from other apps as applicable (if the iOS version of djay deals well with the delay; if Korg updates iElectribe to handle the delay; etc., and these are toy interests rather than anything I do for work) youtube streaming, commercial video like movies and TV.
Mainly music, though I know this seems pedestrian. People say, but we already have Airtunes, but my point is, not from my iPhone or iPad. I gotta have my Mac on, iTunes open, remote app installed, blah, blah.