Video Podcasting/Blogging will explode when the Video iPod is released and become a powerful new form of media worldwide.
I think it (Video Podcasting/Blogging) will give television a run for its money as people start to make the natural progression from (phony) reality shows to actual shows about reality made by real people videocasting from wherever they are in the world. Like cable access on steroids and turned into Ultraman.
A new era of journalism will arrive as news and information will be exchanged directly between people without any sort of corporate or governmental filter, establishing a historical media and potentially social revolution.
Video Podcasting/Blogging will spawn a much needed alternative to the advertisement and propaganda blitz that television has become, introducing new shows and genres of every imaginable kind for all ages, cultures, nationalites, etc. We will see new celebrities emerge from the medium.
The whole thing will be huge and the Video iPod will be the catalyst to set it in motion.