First couple links have relevant stuff. I also use TVersity, which can re-encode media in real-time to stream to your PS3/360/whatever. Another keyword to look up regarding streaming is DLNA.
I just enabled Media Sharing in WMP11 and make sure everything is in your library. Enable the media server connection on ps3, it should detect the ps3 in WMP11 pop-up asking if it wants to share the files, accept and you should be good.
It takes a little time to figure out, but it does work. Just follow the tutorials. I use TVersity along with ffdshow for transcoding (for files the PS3 can't play natively). I don't do it too often but it's nice to be able to.
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