1. A method of a first computing device interacting with a second computing device, comprising: a) receiving an indication that a user desires to pair the first computing device with the second computing device; and b) pairing the first and second computing devices, with the first computing device operating as peripheral device for the second computing device such that the first device performs as one of a display, a game controller, an input device, a storage device and a computational device for the second computing device under the control of the second computing device, where the functionality of the first computing device as a peripheral device are determined by factors including at least one of: b1) parameters set by a user upon pairing the first computing device with the second computing device; b2) specifications of the characteristics and capabilities of the first computing device, and b3) an application running on the second computing device upon receipt of the indication in said step a).