One of the features I most want for the iPhone is the ability to use it as a Wi-Fi remote for iTunes (and related services like Front Row or the Apple TV). Sitting back, multi-touch flicking through lists of content, finding something interesting, tapping, and -- boom -- having it "just work" on my TV or Mac would be Jobsian perfection.

Well, if TUAW's latest rumor pans out, Apple may be about to deliver, well... not exactly that, but something just as cool:

Apple is working on a new iPhone application called iControl. Like Apple TV and other remote controllers, it would allow the iPhone to connect wirelessly to local iTunes libraries and browse through and play media from those sources. TUAW is told that a media navigator will allow you to view videos, play podcasts, listen to music and even support shuffle playback.

As is increasingly the case, the rumor comes via deep delving into the latest firmware and discovering all sorts of interesting localization strings. Whether this means we'll just be able to play iTunes content on the iPhone as though it were a mobile Apple TV, or if I'll be getting my dream iTunes/Front Row/Apple TV remote control via the iPhone as well, we'll have to wait and see.

And I really am finding it harder and harder to wait. How about you?