TUAW's tipsters tell it that, based on code found in the latest iPhone SDK beta, Apple's working on an app called iControl to hook up with iTunes libraries. Their guess is that it'll enable your iPhone to connect wirelessly to your iTunes and play back music, videos and podcasts (supposedly on the phone). That's interesting and all, but we're hoping it's more of an actual "controller", as specified in TUAW's headline and image. This way we can use the iPhone as a remote to adjust playback on our iTunes and Apple TVs. This is the one that makes sense to us. [TUAW]
I'm not sure which would be better -
1) streaming from my iTunes library to my iPhone (I need more than 16GB) or
2) using the iPhone as a remote control for iTunes or aTV over wi-fi.
I fairly certain that PSP/PS3 allows the first one, not sure about the second.
Both should be technically possible.