well, I know your connection is garbage (sorry) but my 3G is decent and - in time - LTE will make HD streaming a breeze in lots of metro areas.
Plus, it's not hard to be smart about this from Apples POV. they can have bitrate limited SD versions stream automatically on 3G for iPhones then have HD versions ready for wifi or LTE.
The idea of plugging in an iphone or little apple TV box in a friend's house or hotel on a visit and having your entire movie collection available is very neat. Or just logging in your account on their device and getting the content.
... I concede that netflix might end up getting there first but their selection has been so iffy in Canada that I would prefer to buy the movies and shows I like than depend on netflix to get them.
Yeah, this would be very different than Netflix. You'd actually own the movie and stream it whenever you want for the foreseeable future. Netflix you at the mercy of whatever is availble for streaming that given day, and most things have a limited time span before being removed.
I really hope Apple does this and soon.