Just thought i'd share.
I just set up Emit for android, and it has a web player where you can stream all your local videos/pictures/music anywhere through the browser. It does live converting so it plays back fine on any device. I was just going to use it for my android tablet (it's a lot like airvideo on ios) but with the web player you can use it anywhere. Even on the pre 2!
It takes a little to load (looks like it's using a flash player) but once it starts playing, playback is smooth! In fact it's the only flash video i've been able to watch on my pre 2!
This had breathed new life into my phone.
Hope it helps!