As soon as I heard about this, I of course turned on the beast and downloaded the necessary files (you need the new Xbox software and the codecs, which are downloaded separately).
It all works almost perfectly on my setup, which is a TVersity server streaming to the Dashboard on a PIII 500 MHz, 128 MB RAM. You’ll guess that the « almost » comes from my hardware which sometimes has trouble keeping up 🙂
The only problem is that, for some reason, this doesn’t work if you’re using the Xbox as a Media Center Extender. But since this doesn’t concern me directly right now, I’ll just wait for the next software upgrade. Hopefully, I’ll have performed a hardware upgrade by then.