I just found this application a few days ago, but it was not iTunes compatible at the time. Today they released their new version that includes an iPhone compatible web service. Dot-Tunes is an iTunes web server that lets you share and access your iTunes library over the internet. Now, with the iPhone version, you can access any of your music over the web, EDGE is even fast enough for many MP3s. It is great and you can get the application for free at dottunes.net. The iPhone add-on is $20. I bought it and I love it. There is a live demo on their site.