I store music (.flac), DVDs, Blu-Rays on drives and stream them through a Western Digital TV Live. Honestly I can't see myself storing a lot of movies that way because they don't get rewatched all that often but it's a great way to store concert DVDs for quick convenient access. Of course if you have kids it'll save wear and tear on discs and DVD players.
With the WDTV Live you have a couple of choices. You can store music and DVDs on a USB hard drive or on network drive. Because of the amount of bandwidth they need Blu-Rays must be played from a local USB drive.
I prefer WDTV Live because it plays a greater verity of formats and is very intuitive and easy to use. The new
Plus version can be found for around $120.
Features.