it will be interesting to see what kind of excuse Jobs comes up with if this app is not approved. Like the article says, they will take flash video and turn into "Apple standards".
Until a little bit ago, Skyfire was able to play videos from Hulu.com.
Just tried it, it sees there's a video, loads it and then dies and says that the video is not available on my platform since Hulu has now blocked Skyfire's browser.