Here's my set-up and my quandary.

tv 40gb (in mail - refurb purchase now that take 2 is available)
Macbook Pro 2.33ghz Core 2 Duo, 250gb hdd, 2gb ram
PC 160gb Sata raid 1, Xp Pro
External HDD 720 gb hooked up to Airport Extreme where I currently store all of my media.
My PC is connected via ethernet to AEBS and my MBP is wireless.
I'm thinking to just use my PC as my iTunes server and perhaps even hook up the External HDD to it for additional storage. My only reservation to doing this is that the PC is hot, noisy and it seems to me that the Windows DVD ripping SW is much clonkier than MactheRipper/Handbrake...
My alternative is to use the MBP as the iTunes server but then I have to have it on constantly and I'm concerned that streaming from 1st the Airdisk then from the MBP is going to cause flakey if not unstable playback.
Anyone care to comment?