I'd agree with Jobs if everyone had fast broadband
" the "best" so far is 720p with a stereo soundtrack"
That's what I thought too, but I rented a HD movie off AppleTV last night and was surprised to find a Dolby Digital 5.1 soundtrack...
I'm fortunate to get an actual 16Mbps broadband connection where I live and the movie was ready to watch in less than 30 seconds and didn't skip a beat the whole way through.
With that quality (no 1080p matters not to me as fast moving movies don't benefit from it and it just takes longer to download) and fast broadband I can see it *is* the future. I certainly have no interest in BluRay.