If you need a handy way to tote around your digital movie collection, and can overlook the aesthetic criminality of this product, IOGEAR's Portable Media Player maybe, just maybe, could be meant for you. The $350 unit can play back standard def videos and upconvert them to 720p over its component outputs -- or just sacrifice quality altogether and output over composite. There room for 50 hours of "DVD-quality video," which we're guessing means about 120GB of storage, but we're still waiting for word on codec support. Obviously without a screen you won't be watching any of this stuff on the go, but if none of that deters you, the unit is available now.
Update: Codecs include AVI, DivX, XviD, MP3, MPEG-2 and so forth, and the capacity is indeed 120GB.