Cisco's acquisition of Pure Digital, makers of the Flip camcorders, is an extension of Cisco's thrust into the consumer space.  Their vision consists of moving from:

• the "connected home," or computers in the home connected to the internet, to 
• the "media-enabled home," where devices in the home connect to each other, to
• "visual-networking," or sharing recorded video, and interactive visual communication

WikiPedia defines "telepresence" as "a set of technologies which allow a person to feel as if they were present, to give the appearance that they were present, or to have an effect, at a location other than their true location."  Cisco also uses the phrase "visual telepresence" when talking about their consumer vision.

In this video, Ken Wirt, VP of Consumer Marketing at Cisco talks about how Flip Video supports the transition from the media-enabled home to visual networking.  It's easy to understand the role of the Flip in visual networking, but I'm trying to read between the lines to project its incorporation into real-time communication.