The Fan Video site itself takes professional music videos and inserts your profile picture prominently. The site also features sharing capabilities to post the videos to MySpace, Facebook or Twitter. Additionally, you can create videos for your friends using their profile pictures, and you can choose these friends from your MySpace or Facebook friend lists (depending on which account you used to sign in).
Not a super-useful application (more fun than sheep throwing, I guess), but is this a harbinger of things to come for MySpace? Are they ready to concede the social networking arena to Facebook?