MacRumors.com

Despite historic comments that a Video iPod was not felt to be a desirable product, Apple appears to have expanded the iPod trademark to include Video support as well as other features and functionality which the iPod line has encompassed. The most recent character mark was filed on June 18, 2005 and provides the following description:

full line of electronic and mechanical accessories and computer software for portable and handheld digital electronic devices for recording, organizing, transmitting, manipulating, and reviewing text, data, audio, image, and video files;
....
all for use with portable and handheld digital electronic devices for recording, organizing, transmitting, manipulating, and reviewing text, data, audio, image, and video files in Class 9

The original iPod trademark from October 2001 was limited to text, data and audio files:

Portable and handheld digital electronic devices for recording, organizing, transmitting, manipulating, and reviewing text, data, and audio files

The expanded trademark coverage may simply be pro-active protection for Apple, but is difficult to ignore the rumors/speculation about potential video-capable iPods.