This one's all about the iPod, by the looks of it, and giving it the ability to "wirelessly control and access a media server." Ryan speculates that means iTunes, which would mean that you could listen to streaming music from your iTunes install, through your iPod. But I think he's thinking small on this one-- what if Apple wanted to create an iPod that actually hooked up to AppleTV. You could sit in your bedroom watching the latest Daily Show, streaming from the AppleTV in the other room, while someone else watched the latest episode of Lost on the television. The possibilities there are very interesting-- combine a widescreen iPod with a wireless function like this (and we might as well throw in MobileSafari, right?), and you're looking at a very droolworthy multimedia gadget.
Of course, as with all Apple patents, this is total and complete speculation-- this patent may never actually be built, and even if it is, we might be looking at something planned years from now. But it's always fun to guess at what Apple's doing next.