Orb Networks, Inc. just announced what sounds like a wicked cool innovation for networked Xbox 360, PlayStation 3, and Nintendo Wii owners.
Using their new (and free) downloadable PC software, you can get all of your "digital entertainment on the PC (home and Internet videos, photos, music and more [IPTV, PC Webcam, etc.]) directly on your TV with your gaming console using Orb's free software as the bridge."
I have a Windows XP Media Center Edition PC, and the Xbox 360 serves as a Media Center Extender (using Transcode 360 for non-Microsoft formats), so I already get all of this.
Microsoft also provides this functionality for non-MCE Windows XP machines via Windows Media Player 11 or Windows Media Connect (but for a subset of Windows-supported formats only; for things like DiVX, you can use VLC, WinAvi, or Windows Media Encoder).
But it looks like Orb packages stuff together and makes it easy to install-- especially for PS3 and Wii owners, and for all 360 owners who don't have a Media Center PC option available to them.
Check out Orb's solutions for all three consoles.
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