Is Apple Working on a DVR/VOD solution?

Om Malik points to a post by Jonathan Greene speculating about an alleged upcoming DVR/Video-on-Demand solution from Apple.

I’ve not seen anyone mention DRM as part of the picture. Or has this already been figured out by Netflix through a subscription model? Would one be able to buy movies or just temporarily “rent them”? Would renting movies be inconsistent with Apple’s iTunes Music Store model, whereby Steve Jobs has on many occasions greatly emphasized the school of thought that people want to own their music. I’m however somewhat comparing Apples to Oranges, as there already is a pretty vibrant Video/Movie rental market, which would more easily transition into such an online subscription model, while there’s never truly been well-established rental music markets until digital music came out.