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The Wi-Fi Alliance, a consortium of companies making WiFi products, has unveiled a new protocol, Wi-Fi Direct. This lets WiFi products certified by the Alliance connect directly with each other, without the need for a wireless access point or router. However, Wi-Fi Direct is aimed at augmenting wireless access points or routers, not replacing them. The Alliance has begun certifying WiFi products for the new protocol. The Wi-Fi Alliance did not respond to requests for comment by press time.
I have had similar capability on my Mac tower since 2003. I use it to WiFi my Blu-ray player and any laptop in the area to my hardwired Mac and on to the network so I don't have to run individual cables.