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Speculation is rampant that Apple Computer plans to come out with an all-new iPod that would play video, perhaps as soon as September.

The company only will say that it won’t comment on “rumors and speculation.”

Apple Computer, of course, has revolutionized the music downloading business with its line of iPods – and has consistently come out with new versions of the contraption that have had more memory at a lower price. Its leaders reportedly have held meetings with executives in the movie and television industries to work out the complex legal and rights issues that might surround such downloads.
KC's View:
This is all part of the fundamental ways in which how we buy things is changing. The old rules about how you buy music have vanished. The old rules about how you watched/acquired television shows and movies have changed, and are set for yet another major shift.

The expectations that these changes create, especially in our children, are going to eventually play out in how they buy food. And the stores that are relevant to our children are the ones that figure this out and start preparing for it now.

The only downside is that the 40 GB iPod that was given to me about a year ago is already obsolete, and shortly will be even more so.

Ah, well…

By the way, Apple’s iTunes celebrated its 500 millionth song download yesterday - Amy Greer, of Lafayette, Ind., downloaded Faith Hill's ''Mississippi Girl" and won 10 iPods, a credit for 10,000 songs and a trip for four to a Coldplay concert.

If we were her, we’d hold out for one of the new video iPods…