I think in 12 months or so when 802.11n has been ratified, sending HD video around the house will be an easy task, but not until then. I believe this is when the much talked about Airport video streaming device will come out.
I agree with what most people have said, and I too consider myself to be an audiophile, so 128KBps is insufficient. I usually buy the cds and rip them using Apple Lossless or if AAC, at least 192KBps. But I also know I am the exception, not the rule and most people are not audiophiles and would consider the amount I have spent on my home audio system to be obscene.
Similarly, I much prefer HD than standard def and can't wait until there is lots of content. We are still waiting to see what happens with Blueray and HDDVD not to mention negotiations with film studios about what will be fair use. At the moment we are not entitled to copy a DVD even though we own it (I know people do any way) let alone stream it round the house, but hopefully this will change too.
And bandwidth. It is currently prohibitive to consider downloading via the web GBs of HD movies, but I'm sure this will change too. I have ordered my new iPod video capable 60GB (in Black) and can't wait. I have become addicted to podcasts and started to watch a number of video podcasts. I can see commuters being more than happy watching a music video on their iPod or a recent episode of lost while riding to or from work. You'll still have the enjoyment of catching the show (at your convenience) or enjoying your favorite music video and it'll certainly kill the travel time. I also think Front Row is great. It's really simple to use and has enourmous potential. Let's wait and see what happens.
Apple’s Media Center PC End Around