The answer is yes. After a few hours of searching I found out that you can. There are actually a few different brands of products that you can use. The ones I saw use your CF slot for it and they allow you to connect via VGA, Composite and S Video. Here is the link to the one that looked to me to be the most compatible.
Animation Technologies Inc
FYI
For other brands I searched Google subject "Video out for PDA" and got quite a few results. I had tried subject "connecting PDA to TV" and had no results.
I think this is a very cool thing. To be able to save movies on your SD card then play them on TV would be great for traveling. Also for viewing anything else on your PDA games, pictures etc..