Vuze got a big update today. Version 4.2 of the torrent client/online video portal service now allows live video streaming to game consoles Xbox 360 and PlayStation 3. The software acts as a media server and can directly transfer High Def content (music vids, the latest movie trailers and television episodes) free of charge to consoles on the same network.
Streaming to consoles isn't anything new, but it certainly hasn't been made this easy -- just simply drag-and-drop the video poised for streaming into Vuze's "Devices" tab and you're set. Vuze will automatically convert file formats if it detects that the original file can't be played on the receiving device. Oh, and the fact that it is completely free should be reason enough to try it out.