Oh, these NYU kids and their big ideas. (Disclosure: I was an NYU kid until Thursday.) Myra Einstein's project, Ambient TV, aims to bring Web 2.0 tech to TV and would make a great add-on to TiVo or the upcoming Xbox 360 IPTV setup. While some of the ideas aren't so new—swarm recommendations, so that Lost watchers would be directed to follow fellow viewers to Heroes, for instance—its friend setup in particular seems like a big draw and a natural fit for IPTV.
Basically, you can recommend a show to any (or all) of your friends on your list, and it'll simply pop up in their friends channel. It also works to some extent like a Flickr pool, so you check out what your friends have been watching.
The other Flickr/YouTube-like feature is the ability to tag shows, which is potentially extremely cool and incredibly useful, more so than automated recommendations. I just wonder how long it would take for every show to be tagged "09 f9 11 02 9d 74 e3 5b d8 41 56 c5 63 56 88 c0." Video demo after the jump.
Ambient TV [Project Page]