Windows Phone 7 may not be out yet but here is another Windows Media Center application for the platform, the app is called Meteor Hub and acts as a remote control for Windows Media Center. This is from the developer:
A short tour around the hub of the Meteor Windows Phone 7 application.
The video gives a short demo of the integrated experience this Windows Media Center remote control application provides, including some gestures, how media is controlled and transitions between audio and video tracks.
This is still a work in progress using placeholder controls, so keep that in mindWatch the video on youtube

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