Hey, I think I remember that a while ago Apple hired one of the wonderkinds who started the software company Delicious Monster, just after they'd released Delicious Library - their gorgeous looking DVD cataloging app.
Delicious Library is a trully beautiful little application which cataloges DVDs, books or CDs and retrieves cover artwork from Amazon and the like. The interface is almost "more Apple than Apple" - in fact it created a firestorm of interface-nerd argument when Ars Techica wrote a very favourable review of it.
If Apple hired him, perhaps this kid has been busy in there building the missing video/DVD importing/managing software which might make all this video iPod/iMovieStore gossip make sense...
I sure hope so....
(just had a look around online to try to find that old story, and couldn't find anything. Anyone else remember this or have I imagined it?)