According to 9to5Mac, there is a rumor that Apple is creating a media oriented server based on Apple's Time Capsule platform. According to 9to5Mac:

- The device will tie in MobileMe with an Apple built-in Dynamic DNS system.  For instance, if your MobileMe account was "9to5mac", your domain name would be "9to5mac.me.com".  This is how you'd reach your filesystem throughout the Internet.  Your media would also reside here.

- Built in AFP filesharing for Time Machine backups and centralized file stores.  Technically, you could even do backups on the road.

- iTunes shared library database for not just music, but also video.  Access over the Internet to all of your media.

- Photo database and tie in with with MobileMe.

- Sharing media with iPod touch and iPhones both over the Internet and while at home.  AppleTV as well.

- The box will be based on the Time Machine platform (ARM), not a more expensive Intel/Leopard Server configuration.

- Current Time Machine networking functionality built in.

- Lots of power saving features like turning off hard drives when not in use.

- Multiple hard drive configurations would be made available with RAID 5 redundancy.

Basically all of this makes sense as a logical possible evolution to the current Time Capsule platform. It would be interesting to see if it actually appears at Macworld 2009. The streaming of media to all of our devices regardless of location would be welcome as would any kind of RAID hard drive configuration for backups for precious media and data. This could turn into a must have product for any home with multiple Apple stationary or mobile devices.

Once again, as with all wacky pre-Macworld Expo rumors, you should take this information with a delicious grain of salt.