Nullriver posted an alpha of their forthcoming 2.0 release. The alpha works under Snow Leopard, plus it's now 64-bit so System Preferences no longer has to quit and reopen in 32-bit mode when selecting MediaLink.
Looks like there's a new feature coming in 2.0
http://www.nullriver.com/
The final 2.0 version of MediaLink will include full video transcoding functionality that is being polished up for release very soon!
Hopefully the transcoder will allow me to watch videos taken from my Panasonic Lumix DMC-TZ5 camera. They're apparently using older QuickTime format(pre H.264) that the PS3 doesn't understand. It would be even nicer if it could stream iTunes purchased videos, though I won't hold my breath as they've got DRM.
I posted a video of MediaLink in action
http://www.youtube.c...tch?v=G6OjbQYFDF4