Waiting To Be Impressed.
Being a self-respecting iPod specialist, I would say we could cross our fingers for this one.
As much as the video aspect being highly unlikely. Jobs himself has been very negative about video, when he says something like "yeah, the video industry is big, we should play a role", then we could anticipate a iPod movie or what ever, but right now, as much as the prospect is weak and uncredible, video might just be the next thing for Apple. I don't expect to see any movies soon on the iPods, this music-video stuff sounds very weak, as people will not go and spend an extra dollar to see artists on screen when listening to their iPods. (Normally people watch the road when walking with an iPod) If however the Journal had reported that Apple had been talking to some of the movie industry personnel, about distributing movie clips or selling movies on their iTunes Music Store, (which is in itself a problem), then the possiblity of a Video iPod becomes higher, but at this current moment, with the anticipated upgrade in generation, we could expect anything, as we finally leave the 4G.
5G. This means a whole generation change, form factor, aesthetics, technology all go a significant shift. We probably will a hefty reduction in size of the 40GBs, and with the introduction of the 80s, the 30s and 60s will be history. The interesting aspect with this annoucement is that it targets directly on the on coming Christmas market. It is no suprise that this should be Apple's direction. They have the Shuffles, Nanos, and the iPods that recieve a generation upgrade, with these guns, it is more than likely that Apple is going to rake in millions in pure profits alone with the holiday season.
Apart from a size reduction and general capacity increase, I cannot speculate any further as no speculation beyond this point is credible. Anything can be put up for speculation from video. This is a very volatile medium that Apple has no control over. They want to control things, people need to understand before making judgments on what Apple is intending to do. The obvious battery improvements will be made, and a possible, but not very possible change in the color factor. The Black will probably make a debut with the iPod 5Gs, but this is also debatable.
Bluetooth earphones etc are way out of line, as they require separate charging, this applies to wireless mumbo jumbo too.
Overall, Video is very possible, but very weak (both in distribution and sell-factor: music videos??? Puleeze. Even Trailers are pushing it). But as I said, a 5th Generation change is no laughing matter. And the competitors should be ever more scared of the oncoming onslaught of the Apple Division.