Reading the addenda on that article (i.e. "Update II .. this just in!!!1") makes twitter software development look easy, compared to the old, real-world, b2b business software some of us are doing.
I wonder if this will someday be a trademark-law case-study. Two teams work on similar ideas, same name except for the internet TLD, one launches about 2 weeks earlier. Who -- if either -- has earned the 'TwitVid' trademark?