Now this sounds pretty sweet...
April 13 2005
http://www.participatoryculture.org/Announcing a new platform for internet television and video. Anyone can broadcast full-screen video to thousands of people at virtually no cost, using BitTorrent technology. Viewers get intuitive, elegant software to subscribe to channels, watch video, and organize their video library. The project is non-profit, open source, and built on open standards. Today we're announcing the project and releasing our current sourcecode. The software is launching in June.
DemoTV @ SourceForge
DemoTV is a TV-like experience for viewing predelivered video on the Internet based on open protocols including RSS, BitTorrent, and HTTP.