A must-have piece of software if you’re relying on your XBOX 360 or PS3 to view content which is stored on your PC, The TVersity Media Server is essentially a transcoder which does real-time conversion of video/audio files from whatever format they are in to a format playable by your device.
I’m lucky enough (lucky!) to be stuck in standard-def land so my old original XBOX with XBOX Media Center on it does the job better than TVsersity + 360 could (for standard def content) but I have had TVersity set up with my 360 so that when/if I make the move to hi-def TV I’ll be ready.
Set up can be a bit fiddly but if you’re lucky and it “just works” you’re on easy street. Unfortunately I’ve heard of as many people giving up and finding alternatives as have got it working without a hitch, I lie somewhere in the middle and some persistance and research got my install working eventually.
Anyway, new version out this week, check it out: http://tversity.com/
EDIT: I’ve been testing the new version and there’s some good news. The previous versions tended to have some problems with certain codecs and most of my self-captured music videos would not play back at all or would play back with audio only (with a blank screen). The good news is that all (I’ve tested about 20 of 2000, including the ones I knew didn’t work previously) of my videos now play back through TVersity, I don’t know if it was a codec or config thing but they’re all working now and that’s reason enough to upgrade.