DIY Time Capsule? Possible? -- From a Server Newbie

[Xtreambar]

Sorry if this a really basic question, but...

How does one create a Time Capsule-esque device? I.E. a shared, wireless hard drive that I put movies on to watch on my laptop and PS3, plus a place to synch with Time Machine without tethering to a box.

Does one need to build a Linux server to create such a set-up or is can it be done with just a wireless router and an external hard drive? If so, what would such a configuration be called?

 

[jbiggs12]

Bump! Check this out:

Bump.

(Couldn't resist: first thing that popped up on one of many google searches.)
Try installing FreeNAS on this baby, AFP'ing to it, and selecting it as your backup module. Looking price-wise, it probably won't save you much, but you also get a fully functional computer inside, for bittorrents and such.