After one analyst predicted AT&T would scrap their current "Project Lightspeed" plans (FTTN, VDSL2 to the home) for something that could deliver more bandwidth, AT&T insisted to us nothing had changed, and that pair bonding and compression would deliver an additional bandwidth boost if 25Mbps to each home was too snug a fit.

"Using VDSL2, we're seeing speeds of 20-25 Mbps at up to 4,000 feet, even more at shorter loop lengths," spokesperson Denise Koenig recently told us. "On average, we're bringing fiber to within 3,000 feet of customers' homes."

"This gives us more than adequate bandwidth to provide four streams of high-quality video (including one high-definition stream), high-speed Internet access and, in the future, consumer voice over IP services," Koenig insisted.

But analysts apparently aren't buying it.

Today a second analyst predicted AT&T will "announce a new video architecture with increased revenue potential later this year." Forbes quotes analyst Tom Watts who says AT&T's Lightspeed architecture may be "experiencing challenges" and if deployed could be un-competitive.

The possible change? As many suspected, a switch directly to fiber to the home, a la Verizon Fios. The technology continues to drop in price, and Verizon has started using pre-installed home Coax to reduce installation costs even further. And since little has been deployed, AT&T doesn't have much to lose by running fiber the rest of the way to customers' doors.

"We do not view the move to FTTH as a changing of horses in the middle of the race," says Watts. "In fact, the race has barely started. Instead, this is a chance for AT&T to scratch a nag from the race, and replace it with a potential Triple Crown Winner."