Kevin over at jkontherun points out that you can send a video (and presumably audio) podcasts from one Zune to another and recipient can even subscribe on the device.
Rob Greenlee figured out that video podcasts can be sent over WiFi from Zune to Zune using the sharing functionality built into the Zune 2.5 firmware. Here's the more important function in my mind: not only can you share that video 'cast with a Zune-mate, but he or she can then initiate a subscription to the podcast directly on their Zune. They just need to hold down the middle Zune button while the video podcast is playing and they'll see the "Subscribe" option appear. Next time they sync their Zune with a host PC running the Zune software, the new subscription will be added to their podcasts. Nice feature!
Very cool feature. No if only I can find another person in Australia with a Zune I can try this out :)