Wirelessly posted (iPhone 4: Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_3 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8F190 Safari/6533.18.5)
As troop231 says, appletv is not required. However, not all files that iTunes will play will work as iTunes will play files that aren't playable on an iPad / iPhone or iPod touch.
Home sharing doesn't do any transcoding so the simple rule is that if iTunes can sync the media to your device, that device can play it over home sharing.