So who's the Royal & what's on the sex tape?

Two men are in custody in London for allegedly trying to blackmail a member of the British royal family over a “sex and drugs” video. But what’s on the tape-- and which royal family member (or royal family member's member) is involved?

Here’s what we know so far, according to the London papers:

* The alleged blackmail victim is supposedly not a senior member of the royal family. The reports don’t say whether the royal is male or female.

* The recordings are said to have been made by mobile phone and hidden recorders in a flat in South West London, close to Buckingham Palace, in a residential area.

* The video allegedly shows the royal's aide spreading cocaine on a table and cutting it into lines using a Harrods gold charge card. The aide makes allegations of a sex act that took place with the royal. Then he asks for "more cocaine."

* One of the alleged blackmailers is “a university-educated businessman and socialite who is said to be a well-known figure on the London club scene" and “who lives with his mother in Chelsea.”

* Suspect Ian Strachan claims he has met Princes Wiliam and Harry on two occasions. He also claims to know Princess Anne's "down to Earth" daughter Zara Phillips and Freddie Windsor (the playboy son of racist Princess Michael of Kent, above and left).

* Strachan's attorney claims there is no sex tape. "There is no tape in existence. What there is in existence are tapes both audio and visual of an assistant to a member of the royal family boasting of how he received a sex act from this royal family member. Whether that act took place I do not know.”

* In 2003, Prince Charles was embroiled in a gay sex scandal after a former palace servant who’d worked for Charles for 11 years said he winteness a sexual incident involving Prince Charles and a former male royal aide. He says he recorded what he saw on an audiotape and gave the tape to Princess Diana. Charles issued a statement denying all.

Initial suspicion led to one of the young party boy princes or their Da, but with that "no senior member" caveat (and William and Harry aparently are "senior," we'll go out on a limb and guess it's Freddie.