As most 360 owners know, you can not stream DivX or XviD videos to your 360 media center. Previous to now, you would have had to use Videora's Xbox 360 Converter to convert your videos and then watch them on your Xbox 360.
Now there is a new solution. Mperfect.net has created a way to encode your video to wma on the fly while streaming it to your 360, thus cutting out the extra step of conversion. I haven't given this a go yet, but will definately be checking it out this weekend!