The project to port extra codecs has made a lot of progress. We now have h264, flv, bluray avi, xvid, mp4, wmv, and many other formats all playing perfectly, mkv and other external libraries are being added now. As this project uses open source libraries and code expect a full source soon. The current player uses the ffmpeg standard SDL (ported to the xbox 360 by lantus). There are plans to integrate video playback within our favorite dashboard :)
A few questions we've seen from people are
Q Will there be streaming capabilities?
A we hope in time that our player, and whoever decides to take on homebrew video, will support networking capability.
Q What's the point, won't this crash my jtag?
A Sadly, some people are too scared to try homebrew because they think their jtag will die. Media playback will not stress the system to the point of rrod. This can be proved by showing system temps during playback. Gaming requires way more power.
Q Why are the french doing so much for homebrew?
A Razkar is our friend, and there are also some talented french coders.
As we believe that homebrew should be non profit and solely for the purpose of open usage of this amazing system microsoft has given us that we love, we do not take donations, but if you are interested in our project please consider a donation to help our friends in Japan. http://www.redcross.org/