Watch your entire video collection on your iPhone or iPod Touch, without having to convert files or transfer them to your device.
A new app called Air Video lets you stream video from your computer to your iPhone, without the need for iTunes. It will also work over a 3G connection (after a little bit of extra configuration).
With the Air Video Live Conversion feature, it doesn't matter if the video your streaming is even compatible with the iPhone as it will convert it for you on the fly.
This streaming app will cost you $2.99 at the app store or you can test out the free version that only shows a random portion of your video collection.