I marked this in Bloglines a while ago to post and am finally getting around to it, but check out this information from this post on Boing Boing:
Some months ago, an enterprising hacker accomplished a key hack in the eventual opening of the iPod: Nils Schneider reverse-engineered the iPod's firmware. This means that hackers now have the means to move data off of and onto the iPod at will, but more interesting is how he accomplished it. He figured out how to get the iPod to convert its firmware to a series of squeaks (essentially, to play it like a piece of music) and then converted the music back into software.
Lots more detail in the original post, but consider the implications. What if you could defeat the Windows Media Player codec by getting Media Player to convert it to a series of visual colors within a pallet (like 256 level of gray)? I'm not saying that it would work, but, of course, I am not saying it wouldn't work either.