Let’s assume you have $40,000 lying around to spend on a gadget. What could you buy? You could get a full-featured Kaleidescape home entertainment center or Barco’s 56” Quad-HDTV. You could get two Toyota Prius hybrids, one for your spouse and one for yourself. You could buy an 18th century bottle of Chateau Lafite wine to enjoy the entertainment your existing gadgets provide. Or, you could buy a PhaseOne digital camera – with a 65 megapixel sensor.

As expected, Microsoft dropped the price of its 20 GB Xbox 360 Pro (Premium) game console by $50 to $299.99. However, the price drop isn’t permanent as it is designed to quickly clear the inventory of these models to make room for a new 60 GB version. As soon as the 20 GB consoles are gone, you will be paying just as much as you would have before.

Cables, lots of cables, are the hallmark of our modern living room, but Belkin has a up-market solution for all your wire woes.  The company has announced its FlyWire system which wirelessly transmits HD video and audio anywhere in your home.  Operating in the 5 GHz band, the FlyWire has frequency hopping and is robust enough, according to Belkin, to transmit 1080p video “with no latency”.

A new DVD logo released by the DVD Forum has added to the speculation surrounding Toshiba’s HD-enabled DVD player that is expected to become available later this year. The organization chaired by Toshiba approved the “DVD Download DL” logo during its most recent Steering Committee meeting.

If you have been trying to figure out how to run cables through your walls to set up a surround sound system for your TV or if you just don’t like the look of speakers scattered over your family, this may be an interesting alternative. Mitsubishi’s new 120 Hz LT-series already integrates a surround sound speaker system.

The latest iTunes 7.7 beta released yesterday indicate that Apple's plans to offer a free iPhone/iPod touch application called Remote. The software is believed to turn the iPhone or iPod touch into a Wi-Fi control device for iTunes media that are stored on a Mac or PC desktop.

JVC announced new slim LCD TVs as part of the company’s Procision series. What makes these 1080p TVs special is not just their thin form factor, but their reduced power consumption: The 42” LT-42SL89 and the 46” LT-46SL89 are promised to consume less than 200 watts, which means you don’t have to feel quite so guilty about their power ratings.

Sharp recently announced that it will begin selling its 108” LCD TV in the U.S. in September and if you are planning on buying Sharp’s 108” TV you may want to hold off on that next Ferrari.

Not that you could really take advantage of the resolution of a quad HDTV today, but just in case you want to run a video game in 8.3 megapixel resolution – four times what current 1080p TVs offer - on a 56” display, Sapphire will be the second company we know of that is actually selling such a display. The bragging rights of owning such a TV come at a hefty price, of course.

Imagine you are enjoying the scenery in that Thomas Kinkade painting in one moment and grab the remote control in the next to exchange the picture for your evening TV news cast. Samsung believes such a scenario would open a niche in the LCD  TV market and presented a prototype LCD TV that acts as a huge picture as well as a common LCD TV.