Steve and Peter mentioned a mystery product/transition during yesterdays quarterly results conference call. The product is supposed to be soooo cool, that Apple will actually make less money bringing it to the market.

Since Apple is all hush hush on the matter, we decided to let the wild speculating commence.

Below are our predictions:

Reviews Editor Ray: "I think it's a flying car (that also functions as an iPhone). It has cut & paste, voice dialing, and syncs Notes. Also, it's powered by dryer lint and happy thoughts."

Senior Editor Susie: "I think it could be some kind of enhancement for the Apple TV, which has come a longish way since its first iteration, but still needs more to compete with the TiVos, Netflix boxes, and even game consoles already entrenched in people's home entertainment systems. How about App Store support, for gaming via an iPod touch controller, as suggested earlier today by the Macalope?"

Online Editor Robbie: "An in-dash car stereo for the iPhone. I'm tired of plugging my iPhone into my radio transmitter and having it warn me "This product is not intended for the iPhone." Then it asks if I want to be in airplane mode."

Art Director Robin:" How about MobileMe that works!"

Online Associate Craig: "In September Steve Jobs will release his signature line of blue jeans--the SJ 1.0.1 jeans. For early adopters, the first 1000 pairs will a small patch of cloth from a pair of Jobs’ private jean collection, so true believers can always have Jobs near and find motivation from the jeans. The jeans will be in Apple stores just in time for back to school. "

Editor in Chief Leslie: The world could certainly use a more elegant take on the Thirst Aid Helmet. Give Jon Ive a week, and we'll all being clamoring for our very own iHelmet 3G.

Managing Editor Jan: In an effort to drive sustainable technology, Apple will release a new line of solar powered computers that will feature energy efficient, eco-friendly operating systems. 

Think you know what Apple's mystery product/transition will be? Share your prediction in the comments below.