I must say I'm dubious about a true video iPod. Not dubious about how it will be released, just dubious about how good it will actually be.
If the click wheel is integral to the screen, ie touchscreen, then we have issues of scratching, finger smudges etc. Whilst a case with a protective cover gets around the smudges, it could cause scratching and will of course become smudged itself.
If the clickwheel is retained separately then presumably the dimensions of the ipod will need to be significantly bigger than the audio versions, as I cant see how a viewable widescreen picture can fit on the current model.
Personally speaking I find really small screens far too small. Anything below PSP size really. For mobile video I use an Archos AV700 device, which with a 7 inch screen is superb. Sure I cant fit it in a pocket, but it goes neatly in a carry bag or briefcase.
For music, I've just ordered the 80gb iPod, as the gapless playback and iTunes makes it irresistable. I jus wish Apple would produce a decent remote control - one which offers full functionality and a three line scrolling LCD display as opposed to the "toy" ones they've doen so far. Then the iPod could sit discretely in a pocket rather than being taken out each time a new playlist is required.