In the next 24 hours, there should be a new app available in Cydia available on TheBigBoss Repository called Air Home Video. You can use this standalone app to select any video off your Camera Roll (Saved Photos on iPad) or Photo Library, play it on device, or use AirPlay to stream to Apple TV. This is one big feature that users have been complaining about being left out of iOS 4.2.1. Once again jailbreak community steps out and delivers.