Great--a DVD with 320x240 video.
Actually, this does bring up an interesting question--if & when they do actually release the "true" video iPod (presumably with a higher-resolution widescreen display covering the surface of the iPod), will they let people re-download their $1.99 video files for free at the higher res? For half-price?
By the same token, what if they were to upgrade the music files to, say, 192 Kbps--would you be allowed to re-download at a discount or for free?