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That's a pretty good idea. The main challenge with things like that is that many of them require line-of-sight to work (WiGig, for example), and are severely hampered by tings like your body getting in the way of the signal. But still, making a battery powered handheld wireless HDMI display + controller combo would overall be relatively trivial - and you could probably get really good battery life too, as long as the display and receiver don't gobble up too much power.