From the "Heard It From A Friend Of A Friend Who/This Is Waaaay Unsubstantiated" Department:
The latest version of the ad-supported Twitterfon app allegedly popped up a couple of ads which, when selected, pointed to "iTunes Movies," "iTunes Movie Rentals" and "iTunes TV." More precisely, to a seeming work-in-progress video section in the mobile iTunes app, from whence the above screen caps come.
The only thing that's really bolstering this rumor right now is the slightly more reputable rumor that next-gen iPhones/iPod Touches will support the higher-speed, lower-power 802.11n Wi-Fi protocol. This would allow faster video downloads than 802.11g Wi-Fi, although the odds of video streaming over 3G without coughing up some extra dough still remain scant.
To add fuel to the fire, John Paczkowski at All Things Digital tracked down two URL's to the nascent iVideo Store — both of which were disabled in record time.