Great post. There are definitely major changes in store. One of the biggest coming changes is the importantce of content creators learnign to be distributers, too. Everyone has distribution available to them -- all they need is a web site -- and if they don't advantage of it, they will get lost in the flood. I'm expecting a lot of niche distributors in the coming years, instead of massive broadcasters. Big business will no longer just be big business -- but lots of little businesses (in the long-tail spirit).
There's more info about the competition on the blog for Media 3.0, The blogger who runs it -- Shelly Palmer -- is head of the competition.
I'm just wondering how strict they will about using music and copyrighted images from other sources. Can I use my favorite song in my video? I'll have to read over the rules a couples times, and check the fineprint.