A press release from ABI Research speculates that Apple’s iTunes service has the potential to outstrip its formidable iPod business and may allow it to enter the home audio and video markets ahead of its competitors. “With over a billion files downloaded from iTunes so far, computers all over the world are brimming with music, speech and video, often organized by iTunes client software into playlists and catalogues. Leveraging all that content, which users have already paid for and want to hear on a good home audio system or watch on a digital-ready TV, creates a huge opening for consumer electronics vendors.” More …