Oh all right. So it wasn't the video player. It should have been. This will be a very underwhelming product launch, and I think for once Jobs has misjudged the market.
Solving the video filter interface problem like they solved the downloadable music interface problem, would have been so much more fun. And better business.
On the other hand Apple stock is up on the announcement, and trading at a 52 week high. So what do I know. If it doesn't ship monster units though, they will be pun-ished.