The iPhone 5 is using the new Lightning port, which means we need to buy adaptors at an additional cost if we want to keep using our old accessories. Unfortunately, those adaptors don't support video and iPod out.
The lack of iPod out doesn't exactly mean your iPod speakers are now dead and useless; iPod out is actually a feature that some car manufacturers (BMW, for example) use for their in-car displays. iPod out lets cars basically port the iPod interface onto their head units and control it from the car. Since this adaptor will no longer let you do that, you'll probably have to control your music from the iPhone and not your diamond-encrusted steering wheel.
As for the lack of video output in the adaptors, it looks like you can't use a Lightning adaptor in addition to one of these 30-pin to HDMi adaptors. If you want to do video out with your iPhone 5, it looks like you'll likely have to use Airplay over Apple TV. It looks like in the quest to shrink the iPhone cable, video and iPod out ended up as casualties. [CNN, iMore]