1. You need Nero 7 Premium Reloaded which you can obtain from the internets ahem.

2. A good PC with wired or wireless connection to your PS3

3. Follow this guide: http://www.gameswank.com/content/view/114/1/

This is indeed awesome! You can turn your PC into a media server usnig this method and stream all your media to your PS3!

droooool.....

Video of me using it: http://youtube.com/watch?v=gHrh03gO7gs

Note: This is a Xvid file. The software encodes everything, on the fly, into MPEG-1 in order for your PS3 to understand it.

Apparently some people at Neogaf have figured out that you can use Nero MediaHome http://www.nero.com/nero7/eng/Nero_MediaHome.html which is a part of the nero premium package to stream divx and xvid movies or maybe even wmv.

You can get a trial of it here http://www.softpedia.com/get/Internet/File-Sharing/Nero-MediaHome.shtml . Let me know because I don't have a windows pc and i cant test it.