Good, but can do more with other apps
I'm all for this 'anti-cloud' approach of streaming video from your own home - I mean you pay for your ISP connection, so you already own your own piece of the cloud!
But there are other options to Air Video. Orb works well, as mentioned by another poster, and can I mention my own (free) server called 'Remote Potato'. Does the same, but also streams all your music, pictures and video too, plus access to Windows Media Center scheduling, EPG, etc if you're running Windows 7. Cons: the server only works on PCs, but you can stream your content to any web browser on any OS, and there are clients available for Android, iOS and WIndows Phone too.
Re: house rules, I'm trying to avoid this being a shameless plug; there are indeed pros and cons to Remote Potato (and obviously I wrote it!) but I would recommend checking it out before you choose a streaming solution - many thousands already have.