Freeware February: Tryst

This app brings back memories for me... memories of watching and playing along with
MST3K with a group of friends back when Comedy Central was still in the nosebleed section of the cable channel spectrum.

Tryst is an amazing video streaming solution that allows you to broadcast the movies and video clips that reside on your computer over Bonjour (nee Rendezvous) to others on your network so you can share them just because, or watch them and comment on them together! One
VersionTracker reviewer said it best "...it's like iTunes sharing but for movies!" You can even have a private viewing by using the password protection feature.

In addition to the broadcasting feature, it's also a great way to organize your movies. Tryst's attarctive and intuitive drag and drop interface makes it a snap to use the "movie inspector," which allows you to notate cast and crew attributes or add your own custom tags – and search through them quickly.

Tryst was developed by Francisco Tolmasky, an undergrad at USC who is majoring in computer science/engineering and math. It was originally intended to allow aspiring young film makers (USC being a big time film school) to share their creations over campus networks. Best of all, Tryst is Open Source and distributed under the
GNU General Public License. Tryst is 100% free. Free to use. Free to change. Free to redistribute. Just plain free.

Now for the bad news. Tryst is currently unable to stream .mov and .mp4 files.
But there's hope for support in a future update – and dude.. it's FREE!!!

Update: I heard from the author and he confirmed that Tryst works best with AVI and MPEG. 
However, most file formats aside from mov and mp4 work well.