Think this will ever happen? I'm doubtful, but it would be great.
iCloud is iTunes Match for movies and tv shows. With the temporary exception of movies from 2 studios, you will be able to redownload and/or stream your purchased movies from iCloud. The same way it works for TV shows so what you are asking for actually exists since yesterday.
What would be cool is if Apple would let us upload our movies to their servers and then stream through Apple TV without our computer being on for video streaming to the Apple TV.
iCloud is not iTunes Match. Match allows you to take an audio file that you did not purchase from iTunes and match it to the same song on the iTunes Store, which then allows you to download the iTunes version. So if you've ripped some music at a lower bitrate than 256 and you want to upgrade, iTunes Match will take care of it. He's asking if the same thing will happen for movies, but I don't think it's going to. Ripping movies is considered illegal, so the movie studios won't go along with letting people rip movies and then use Match to upgrade the quality of it. What would be cool is if Apple would let us upload our movies to their servers and then stream through Apple TV without having to have our computer on for video streaming to the Apple TV.
YES. That's really what I'm after.
Also, ripping movies you own is not illegal.
MPAA disagrees. BTW, I've done it plenty myself. I don't see anything wrong with it as long as you don't sell it or give it away to someone else. But there is a reason they put copy protection on the discs, and it's because they consider ripping the content to be illegal.