How would a video like that be done? I think I know a way, but I don't know if it would work or if it is viable for your average joe.
1. Take an iPod and put a green sticker or contact paper or something on in the shape of the large screen.
2. Film the action of the thumb, and chroma key the "screen" out.
3. In a 3D program (I know this can easily be done in Maya) create a plane surface, and using an image plane, place a video file on the plane. On the plane's material properties, add a glow effect to simulate the backlighting. Create another plane and extrude it to the thickness of the LCD screen. Use a transparent Blinn texture with a light reflectivity for the plastic screen.
4. Create an animation of the plane moving in the same manner as the video clip (this seems the most difficult, but perhaps small reference markers could be used and later edited out. Since the iPod is slightly matte white, it doesn't seem difficult to edit it out) and use a video editing program to place that animation on the chroma keyed surface.
What do y'all think?