I'm claiming your living room!
AirPlay is Apple's upcoming technology that will allow users to stream content between their iOS devices. Watching The Good, The Bad and the Ugly on the bus ride home? Well, once you get to the living room, just start up the Apple TV and use AirPlay to stream the content over to the big screen.
It turns out that this will work for YouTube, and just about any other application that uses the standard media controller (Like Netflix). There was originally some concern, because during the beta phases of iOS 4.2, Apple removed the YouTube AirPlay function from their App. We are happy to see that it's back. It's a very cool functionality, especially for those with multiple devices or speakers around the house.
We've talked about in the past, and how it is definitely Apple's attempt to enter the living room. Keep in mind that the technology would not have to be limited to Apple's products if licensed out. A new TV could ship "AirPlay Ready" and users would no longer have to use a separate box for viewing and listening to the content. Individual speakers throughout the home could be used in the same way for wireless surround setups.