The Democracy Player is a cross-platform internet television viewer (or IPTV, for buzzword-compliance) that boasts over 500 built-in channels for your endless entertainment pleasure. It takes a bit of a different approach to internet television with support for a wide variety of aggregation services, including BitTorrent, and a full-blown channel guide.
The player was recently updated to version 0.8.5 for all platforms, and there is now an Intel version of the app available - not to be confused with Universal. Their Mac OS X download page offers two separate downloads for PPC and Intel versions, stating that a Universal version is pending.
Democracy Player is donationware and available from getdemocracy.com.