Hulu is in the process of developing an app for Apple's (AAPL) iPhone and iPod touch, we have learned from a plugged-in industry executive. The app is coming soon (within a few months) and is "badass" -- as excellent as Hulu's Web site. Video will work over both wi-fi and 3G, we're told.

It won't be the first Web video app for the iPhone -- CBS's TV.com app is on the market, as are Joost, i.TV and several others -- but it could be the best. Hulu's tech and design teams have demonstrated themselves as the best in the Web video industry, as everyone is now trying to emulate them. One hurdle, we assume: Because of Hulu's streaming architecture, it might not be possible to download videos to watch later, such as on the subway or an airplane.

For once, the rumor mill was right: Apple will be delaying Leopard, the next release of Mac OS X, until October.

The company said in a statement Thursday that because of the push to get the iPhone out by June, it had to pull engineers from the Leopard development effort and reassign them to the iPhone. As a result, Leopard won't be finalized until later this year, and only a preview version will be available at Apple's Worldwide Developers Conference in June.