TVersity - Universal Media Server for Home and Internet Content.

This looks really cool. 

http://tversity.com/
http://tversity.blogspot.com/

From: http://en.wikipedia.org/wiki/TVersity_Media_Server

TVersity Media Server is a software package that allows a personal computer to stream content to UPnP devices, such as the Xbox 360, PS3, and Wii, regardless of the limitations of the device. For example, the Xbox 360 does not support most codecs or Internet videos such as YouTube. TVersity Media Server transcodes the video on the PC into a compatible codec and then streams it to the device.
TVersity aims to:

• Deliver any media to any device
• Provide a Personal Entertainment Guide (PEG) by allowing users to create a personalized lineup of channels.
• Provide Content Guides by making it easy to access links via organized lists of multimedia content
• Multimedia Social Networking - allowing users to share links with other users

While built from open source components, TVersity Media Server as a whole is not (except for the bundled codecs). TVersity Pro sells for $39.99 in the U.S., though there is also a free version available that does not stream from online video sites.