ezGear have created a HMD (head mounted display) so you can watch full screen movies on your travels although it's ideal to sit when wearing one of these 
The HMD has the ability to create a simulated 50 inch screen right in front of you (not sure how far away it looks) and comes with iPOD and RCA cables for $400.
I am still not convinced with one of these although it could be something I wear in bed while trying to fall asleep.