With all the controversy amid MP3's these days, especially with software like Napster, it might be easy to miss the next craze...
DivX may be it... think of it as the Video-equivalent of MP3. Full length movies in 300+ megs... not quite as small as mp3's, but you get a bit more for it.
Continued...
Pirated new film releases are already are being distributed. Of course, not the only use for the technology, it shows the potential available.
At this time, there is no Mac version for playback. In fact, the format itself is just a hack, rather than of any official format. The PC version is simply a DivX Codec for the Windows Media Player.
CNet provides some quotes from industry leaders regarding the impact. Presently, there doesn't seem to be enough interest to get anyone worried.