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Originally Posted by Howard2k
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You mean a video downloaded from the iTunes Music Store? Nope. And if someone did come up with a way it would likely be illegal (for breaking the DRM).
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The Fair Use Act says as long as its for personal use and you don't distribute the files, you can make backup copies of digital media. Theres a program called TuneBite which lets you do this to audio encoded with DRM. I'm sure with the popularity of purchasing video from iTunes a video version will be along shortly.
Also, if you own any tv shows or if you have a taped recording of a tv show, I'm pretty sure you can legally download that same show from p2p.