So I discovered a little nifty program called Tversity,
http://www.tversity.com/It basically sets your machine as a server, and allows portable devices to stream content from your machine onto your device. I've only tried it with the PSP and the Xbox360, and I've gotten it working for the most part. The PSP isn't capable of streaming video, but you can set it to stream music from your machine to your PSP using the RSS feed and it works like a charm.
But the primary focus is the 360. Basically, a lot of people bitch and complain because the 360 doesn't support the chief video encoding formats used widely, DivX and XviD. The 360 only supports WMV. What Tversity does is it transcodes your DivX and XviD video on the fly to WMV and streams that to your 360. Pretty cool; it does need a fairly powerful machine though to do HD transcoding though. Anyway, I've currently gotten some videos to work and can stream and watch it on my 360, but a lot of full-length videos do not work for me.
Tversity is still in beta though, but thus far, it's been very promising and stuff.
So, if you're interested in watching your media that resides on your computer on a larger screen or something, check this thing out.