Silicon Alley Insider cites a "plugged-in industry executive" in reporting that the popular web video site Hulu is developing an application for Apple's iPhone. It wouldn't be the first of it's kind, as TV.com, i.TV and Joost are all on the market as it is, but because it's Hulu, the rumor is getting considerable attention.
Hulu providing an iPhone application is obviously a good idea - that is if AT&T doesn't object to it and force Apple's hand to ban it from the iPhone store. Such a service would obviously be heavy on traffic if not only used when Wi-Fi is available for it. The data problems also would create demand for an ability to save and watch videos later.
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