Xbox Media Center is an open-source program that turns your first generation Xbox into a cheap media extender for accessing your media files.
Version 2.0 is now out, with new features including DVD-Video menu navigation support, a new music player with crossfading and gapless playback. Karaoke CDG-file display, read-only support for FAT12/16/32 USB storage devices up to 4GB in size, and a number of new skins and skinnable features.
You can check out a full list of features and supported file formats and codecs here.
Every bit of information you could ever need on setting up your own Xbox Media Center is available here.
1. I've been using XBMC for awhile and love it and I'm so looking forward to installing version 2. Congrats to the XBMC team!
Posted at 7:23AM on Oct 2nd 2006 by tahlyn