I used to use an XBMC PC to stream my media and have all movies stored on my server PC stored in individual folders for each movie with the folder containing meta info, box art images etc.
Is the WDTV able to access the information stored in the folder to create a new library?
Sorry, this doesent directly your Live Streaming Question … (but it may shed some light)
I own a WDTV Live Hub (Built-In Twonky - UPnP / DLNA Compliant) and it’s very simple to share XBMC library
In XBMC Settings > Services > Share Music and Video Libraries through UPnP
Then on my WDTV Live Hub i select “Media Server” connect to XBMC and can browse via Genre,Year,Director,Actors (with pictures from the XBMC scraped database) etc…
Ah, I don’t have XBMC running on any PC at the moment, just sharing my movie folders using Windows sharing but I guess if I install XBMC onto that server PC it could then share the library (metadata and all) to the WDTV?