Just read something about an iTunes Cloud announcement for tomorrow and thought I would post some thoughts.
Combine iTunes in a cloud and the new NC data center and you have streaming content that you own "in the cloud". This is important because Hollywood has allowed streaming on Netflix, etc., but still hates the downloading allowed by iTunes. This solves the rights issues with Hollywood and caters to users who like to actually own something they pay for. Perhaps you can download the media, but it has a timer on it similar to rentals are now. Perhaps you pay a monthly fee like Netflix, but you get your content instantly.
Combine this with the iTablet and you have a supped-up itunes version of a Kindle. Plays everything available on iTunes - HD movies, iPhone apps, etc and has HDMI output capability to your TV. The iTablet becomes a portable Apple TV that can access (through the NC data Center) just about any movie, TV show or podcast that has ever been made.