Well, the specs say "30-pin connector for charging, data transfer, and video out; 3.5-mm jack for audio" so I would expect that it supports this through the 30-pin Dock Connector port, although possibly not through the headphone jack like the 5G does.
Further, the description for the new Component AV cable indicates that "Component video output to television is supported by iPod nano (third generation) and iPod classic at 480p or 576p resolution, and by iPod touch at 480i or 576i resolution."
Holly sh*t, 576p support? That's freaking DVD resolution. Too bad the iPods can't play divx and xvid files, other wise the iPod would be a perfect device for movie fanatics who are constantly on the move.
Actually, 480p is DVD resolution. 576p is used in PAL areas (at 24 fps) while NTSC uses 480p at 24/30 fps. So in those other countries, 576p will not look any different from 480p. In the U.S., DVDs are encoded at 720X480 but they are horizontally squished to fit the standard TV resolution of 640X480. Still, you are getting 480p content when watching a DVD.