I'm interested in it. I'm currently experimenting with mediaserv and the

vlc --intf=http --sout '#transcode{vcodec=mp1v,vb=384,scale=0.75,acodec=m pga,ab=64,channels=2}:std{access=http,mux=mpeg1,ds t=:1234}'

Just gotta figure out how to direct it to where my video files are.

Edit: Figured it out