Other xbox & ps3 streaming format

[robotball]

I have an Xbox and a PS3 which for now I want to use as front end to my family room and kids room TVs. I know I should use something else. I want to rip my DVD and BluRay disks, but I would like to use a format other than MP4 and not have to transcode on the fly. Is there a format that they both support and does not involve transcoding? Also which application will do what I am trying to do?

[GregiBoy]

Use something else and save yourself the heartache.

A WDTV is only gonna cost you about $100 and, although not great, you can use a standard MKV profile.

You will save yourself $100 of pain!!!

[robotball]

Thanks. I am limited on the TV connection issue. Do you have any other suggestions?

[GregiBoy]

WDTV & AC Ryan players have A/V, component & HDMI connections.

Of the two, I personally prefer the AC Ryan.

PS: If you meant with the XBox & PS3, no no other suggestions. You will end up tearing your hair out.