The Video iPod Today? is reporting that an announcement coming later today (10am PST) from Apple could unveil their new video iPod. has news on the coming product as well, saying:
"sources who claim to have seen the new iPod describe it as being similar to Apple's 60GB iPod photo player, but several millimeters thinner.

The device reportedly sports a smaller click-wheel akin to that of the iPod nano's, making way for a larger, higher-resolution color display that extends further down the face of the device.

The release of the iPod video is expected to be accompanied by a "major update" to Apple's iTunes music store that will include a significant number of music videos and other short video content."
Apple has only sent out this "One More Thing" invitation to today's event at the California Theatre in San Jose and has not confirmed or denied any of the rumors. But, as (and many bloggers) are reporting, Apple CEO Steve Jobs has often "used the phrase 'One more thing...' to indicate a surprise product announcement towards the end of his keynote presentations."

Thanks to Jon Kaplan of Bicycle Thieves for the tip on this.