I've only seen a MKV video like once ever. I always used the OGM container until the MP4 container matured and became well-supported.
Is TVersity any better now? I used it a few years ago but it was real flaky.
I like MKV, it's a pretty decent container. I Love OGM but it's just not used as often, my appreciation for it really stems from my admiration for OGG audio and its OpenSource policy. MP4 is becoming the new standard I think.
I have quite a few MKV files, especially anime since MKV is a pretty good and common subtitle and audio stream container too. I still wish OGM was used more universally though. Anyway, I'm just glad I'll be able to embed subtitles into a video so it shows up on the PS3.
I use GOM player on my PC now and it's pretty easy to switch audio and subtitles directly from the player rather than ffdshow or any codec-specific tools. GOM doesn't need DirectVobSub for subtitles either, it runs its own thing.
Before TVersity I was just using Windows Media Player. It's decent for basic media sharing without installing anything new.
TVersity has gotten much better. The GUI is kinda on the crap side since it's built with OpenLaszlo which is based on Flash. It's passable but not ideal. I generally use the command line and I only resort to the GUI when I need to sort out a lot of commands or transcoding settings.
So far TVersity is the most versatile media server I've come across. The live transcoding feature really puts it head and shoulders above all others. It's in the v1.0 release candidate stage now. Check it out.