Sometimes as analysts and journalists we get too excited about radical change in the market, which is perhaps why our headlines back in January 2008, pointed not only to Vodafone launching an IPTV service in Germany, but to a domineering Quad play that would envelope a huge mass of European subscribers. Today that is not much closer to a reality, but we can see the inevitable, if glacially slow shift, of Vodafone heading in that direction ‘ it’s Portugal operation has added IPTV to its offerings, just like Germany did 18 months earlier. Quad play is talked about by so many analysts, but is rarely understood ‘ it genuinely gives you flexibility in service pricing and it drives down churn…