I just about fell off the couch laughing at this one last Saturday when it aired. NBC has posted it as a free download on iTunes.
It looks like DVX100 to me - or maybe HDV since they are broadcasting in HD this season.

http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewTVEpisode?id=110920435&selectedItemId=110920435&s=143441

I made a animated version of this sketch, look in "DV for the Masses" to find the download link.

I'm guessing SNL is currently working as fast as they can to get agreements in place with all former cast members for releasing all these skits on iTunes. It's possible they are already in place, especially recent ones, but not sure their 20 year old contracts were as comprehensive to include this sort of sale.

Once in place, I can't imagine a better place to get these skits out to make a bunch of money on stuff that's been done for years. They could put 500 downloadable 3 minute clips up. Shoot, the fake commercials alone would sell tons at $.99.

With this release, I would guess they are at least thinking along these lines. I can't wait...

KW

I'm guessing SNL is currently working as fast as they can to get agreements in place with all former cast members for releasing all these skits on iTunes. It's possible they are already in place, especially recent ones, but not sure their 20 year old contracts were as comprehensive to include this sort of sale.

Once in place, I can't imagine a better place to get these skits out to make a bunch of money on stuff that's been done for years. They could put 500 downloadable 3 minute clips up. Shoot, the fake commercials alone would sell tons at $.99.

With this release, I would guess they are at least thinking along these lines. I can't wait...

KW

It looks like you predicted correctly. Steve Jobs just announced the availability of classic SNL content on iTunes.