I would buy way, WAY more iTunes video if I could re-compress the video to any format I want, and share it with friends. (I realize that the latter is highly u

I would buy way, WAY more iTunes video if I could re-compress the video to any format I want, and share it with friends. (I realize that the latter is highly undesirable to content holders, but video has always been highly social among my friends, with frequent sharing of DVDs and such.)