Our previous computer (a beast of a machine now sitting gathering dust!) was running Vista Home Premium so it natively ran all the sharing gubbins we thought we'd need: Windows Media Player and Windows Media Centre. Now we've gone to a Mac full time at home, we needed a solution.
We are in the fortunate position of owning both an Xbox 360 and a Playstation 3, so we needed a solution that can handle both systems. After a brief look around it seemed the solutions that had the hype were both by a company called Nullriver software. The problem is that there were two pieces of software, one for the 360 called Connect360 and one for the PS3 called MediaLink.
While reports on the internet seemed to be positive in saying that the respective software worked fine for their console there were a lot of questions about whether the two would run together as they apparently share the same port.
Each piece of software is $20, so cheap-as-chips and as they play so nicely together it's a bargain. They both use iTunes/iPhoto and a folder for videos so they share the same content easily too, without duplication of files.
A highly recommended solution.
UPDATE: Quite a few people have emailed me and told me they can't get it working. I just got a response from Alex at Nullriver Support (I sent in a question before I bought the software and posted this blog post, but Alex does say they have been swamped with emails and are busy trying to improve the software) saying that it does work:
They will work together, right now you must start connect360 first, we're fixing that right now
Hope that helps those of you having problems. Start connect360, then MediaLink and all will be fine (I must have just been lucky that the 360 is in the same room as the iMac so it was the first one I tested, then I tested the PS3 so it all worked).