Yes, Pyro, this is an amazing piece of hardware. I have, a a matter of fact, on the train to work this morning, watched a Lost Vikings longplay for Amiga, via Youtube. Music playback seems "brighter" and cleaner with this iPod than any other I have used.
Also, I have watched movies on it and the quality of the video, if ripped at (Xvid is nice codec), is great.
I have not tried it with TV out yet, I ordered the cable and dock today.
I never really knew I could use any iPod with video playback in this way.
My DVD player is going to be lonely soon!