The materials from Apple say that the following features are not supported on the Lightning to 30 pin dock adapter and cable: Video and iPod out.
What exactly are these features?
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The iPod out functionality is actually a very specific feature that was added only very recently. Only a few cars actually support it, so the vast vast majority of appliances should continue to work fine.
Here's the thing, though: "iPod Out" doesn't actually mean "audio output from an iPod." It's the branding for a very specific feature for cars and remote-screen tools that was included in iOS 4, which delivered a customized iOS graphic display via the in-dash screens when the device was docked
For the Video functionality, this will be coming soon - the connector is capable of it, but it most likely requires additional circuitry in the adapter to implement it.
As with the 30-pin connector, the Lightning connector supports video output; Apple told Macworld that Lightning-to-HDMI and Lightning-to-VGA cables will be available “in the coming months.”
There are 30 pin to VGA and 30 pin to HDMI adapters that provide video out similar to AirPlay but over the cables.
These adaptors are not to plug another of these video devices into the new iPhone. Instead buy a Lightning to video out adapter once they are available.
I would expect to have a shipping date and price on these once they are released for sale.