Top ABC shows such as “Commander in Chief” and “Alias,” along with
“Lost” and “Desperate Housewives,” will be available on the Web at
ABC.com in May and June, starting the day after they are first
broadcast, the network said. They will only be available to users with
a U.S. Internet address to protect foreign broadcasting rights.

All except Alias are available at the ITunes store for $1.99/each, less with one of the pass deals.

What about commercials?

Viewers will be able to pause and move between “chapters” in an episode, but not skip ads that are technically embedded.

Oh. Can I fast-forward?

How long before a friendly hacker figures out how to grab the video stream, ‘technically un-embed’ the ads, and distribute again. Could be interesting. Hope nobody gets hurt.