HP is reporting that they've updated the software for the HP MediaSmart Server to provide video streaming to remote devices.
We covered the introduction of the MediaSmart Server at Macworld Expo 2009. The device is a Windows-based media server that also works with Macs. Now the system can convert videos, including unprotected DVDs, to both a high-resolution version that streams to Macs and PCs on a network and a lower-resolution version that can be played on iPhone and iPod touch.
To view the video streams, access your pictures, and listen to the music collection stored on the MediaSmart Server, you'll be able to download an iPhone / iPod touch app called iStream for free from the App Store. At publication time, the app was still pending approval by Apple.
HP announced that the updated software also provides an improved Time Machine configuration, a better HP Media Collector, and the ability to have both public and private albums in the Photo Viewer. The MediaSmart Server ex485 (750 GB of storage) retails for US$599, and the 1.5 TB ex487 sells for US$749. The device can be expanded to a maximum of 9 TB of storage.