After Microsoft released the update that allowed non-media center editions of windows to stream content to the Xbox 360, many people were peturbed that their favorite codec was not supported. I thought I would mention that the Microsoft-sanctioned way of transcoding these files is to use Movie Maker oh and don't forget to check the FAQ.
Joystiq has another article on the best way to transcode these files and surveys some free ways to transcode your files.
Oh, in completely unrelated news, today marks my 1 year anniversary at Microsoft, so I brought in 1 pound of Peanut M&Ms.
Here's the proof!