Majestic Media Server is a media streaming application. It can help you stream your audio and video files and your iTunes libraries to the Xbox 360, Playstation 3 and other devices. The features that each of the consoles (Xbox 360 and Playstation 3) can make use of are different, and I tested the app with the Xbox 360, so I won't be able to say with certainty how some features work.
Majestic Media Server displays both a dock icon and a menubar icon when it's running. From those places you can access the configuration window. Here, you can add the folders that you want to share with other devices. There are three buttons at the top of the screen: General, iTunes, and iPhoto. In the General tab, you can also choose the interface that you want to use for streaming. By default, the application selected my ethernet network, but I changed that to wireless. You can also set the network speed manually.
This streaming solution can transcode content. For Xbox 360 only audio will be transcoded, whereas the Playstation 3 has the luxury of counting with both video and audio transcoding. Don't ask me why. Also, if you have the PS3, the app can transcode subtitles for you.
In my testing, I was able to stream DivX and H.264 files to my 360 with no problems. MKV files weren't displayed on the console at all. Maybe those will work with the Playstation 3.
In short, this is a very nice app if you have a Playstation 3; not that great if you are an Xbox 360 user.
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