That's what CE Pro is suggesting. After questioning Intel's underwhelming initiative, they have now softened their stance offered an alternate perspective and given us some food for thought on why Viiv might actually be worthwhile. Chief among those reasons is transcoding. For example, your second-gen Viiv equipped PC should come with the capability to stream any type of media to an Xbox 360, without any workarounds or extensions.
We'll wait until we see a Viiv PC with more useful capabilities, although this jibes with rumors we heard earlier about streaming functionality not coming alive until Viiv 2.0.