I don't know what the "Geek gift of the year" is going to be yet, but the Roku digital video player, in combination with the Netflix streaming video service, is what I hear most people talking about.
The Roku digital video players currently come in three varieties. The Roku SD Player is $79.95, and plays Netflix movies, has built-in wireless, and plays DVD quality. The Roku HD Player does all that, but plays HD quality, has an optical audio output for surround sound, and an HDMI connector ($99.95). And the Roku HD-XR Player does all that, and adds in Wireless-N capability.
The Netflix side of this geek gift equation comes as low as $8.99/month, though there may be other plans ... unfortunately I can't find much information on their site without registering.
In combination with the Roku/Netflix formula, you'll also need a high-speed internet connection, but if you have those three things, I've heard nothing bad and lots of good about Roku with Netflix these days.
I originally wrote about the Roku and Netflix combination about ten days ago, but now as I dig around, looking for good geek gift ideas, it occurred to me that this might be a good geek gift.