I currently use PS3 Media Server to stream movies to my PS3 and my Xbox360..
I use DVD Fab Decryptor to rip the DVD to my hard drive
I then use HandBrake and I re-encode the video to MP4/MPV format with AC3 passthru.
On my PS3, no problems. Fast foward, and rewind work just fine.
On my 360 however, I can only play and pause. Cannot fast forward or rewind. I think this is more of an issue with the way the 360 handles MP4/MPV files...but would like some confirmation from others who might have experienced the same thing.
My PS3 is my player of choice, but the darn Cinavia copy protection causes me some problems on some movies from time to time. So, I'd like to use my 360...but not being able to fast forward 20 minutes into the movie is very limiting.