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This seems like a good opening to plug the iPad/iPhone app I would give my award of excellence to, Airvideo. Not only does it do iPad conversions of any video content you throw at it-including 1080p Mkv-it does so faster than handbrake AND it can also convert on the fly and stream it to the iPad over wifi or through the internet... Internet, not a typo. I've tested it streaming from my home computer through the Internet to my work wifi network. It converted and streamed a 720p Mkv full-length movie (Inglorious Basterds) with zero hiccups. Just amazing.
It streams video only but this is a very good thing since it doesn't try to do it all but streams just video flawlessly. This is not something I could say for any other streaming program I've ever tried including Nero, Tversity, Windows Media Player or Media center.
Airvideo is easily worth 10 times it's modest $2.99 price.
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