A new iPhone app called Rowmote can control Front Row, Quicktime, DVD Player, iTunes and Keynote, just like Apple's IR Remote, but over wi-fi.
Apple's IR Remote is fine, but it's easy to lose and needs line-of-sight. Apple's Remote app may still be the slickest iPhone application yet, but it only controls iTunes. Rowmote obviously solves all of these issues.
So there must be a catch, right, for a third party to one-up Apple at their own remote game? Well, there are actually two catches. First, Rowmote doesn't offer any sorting or UI beyond its Shuffle-like controls. (Apple's Remote app allows you to browse your whole iTunes library.) And you'll also have to load an intermediary program onto your Mac before Rowmote will work—it's not turnkey compatible like both Apple remotes are.
But still, especially as Rowmote is priced at just $1, it's at minimum a nice step up from the Apple IR-based Front Row remote (which seems to offer the exact same functionality). [iTunes]