I agree, Rick. This is something many people talked about in the past, but never materialized.
I think the new twists of this whole thing are the progress of Android; proliferation of USB port (in a TV); an optical navigation device Gao talks about; angling to bring in more entertainment content from the Internet, etc. so that this can be played on the consumer mass market front.
Gao tells me that his kids don't play with iPad any more, using muPad to play the game on a big screen.
Sounds like a consumer applicaiton of the ad hoc standard Lexar and others pushed a few years ago for running executable code from a USB flash drive so people could carry their computing to any network computer.