How about mass video editing?

Mark Cuban has some ideas for improving TiVos. This reminded me of an idea I had while watching the Olympics. TiVo collects data on which programs have been watched, which bits were fast-forwarded, and which were played more than once or in slow motion.
Imagine if it took something like the Olympics, or a baseball or football game, and collated everyone's replay speeds, and then offered up various highlights packages- the most viewed 5 minutes; most viewed hour and so on. This would naturally edit out all commercials, and the commentators padding, and show which bits of action people as a whole found interesting.