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Next Generation iPod (Video) Product?

Apple continues to work on their "next generation iPod" products as evidenced by this Job Listing at Apple for a Playback Firmware Engineer.

Apple is "seeking a highly motivated engineer to develop next generation iPod product. Must have experience in overall system design of audio and video products.

Seems the next generation iPod developer will also have to be familiar with both audio and video codecs/compression standards.