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terrabyte hardrives are pretty inexpensive these days. I am using subsonic on my server.as a music server. It is supposed to support videos also. The advantage is that it supports remote operations, to a phone or a any internet enabled phone. Subsonic.org handles all the dns forwarding.

I don't know much about Apples but subsonic handles mp3s and almost any music format and converts music on the fly. It is supposed convert videos in the same way. Subsonic is best for those who wish to take their music (and videos) with them wherever they go. it works on Windows Macs and linux systems , and there are apps for android and Iphones as well as roku.