The bitrates in air video is even higher in the latest beta.
It's takes a lot of horsepower, but it's running smooth on my pc.
The air video server software takes 350kB ram and ffmpeg for live conversion 120kB here. CPU is sometimes spiking to 80% but not more.
I play a lot 1080p .m2ts movies on my iPad ripped from bd's and love this app.

Air Video Server 2.4.5-beta5 released

I'm pleased to announce that new Air Video Server version is available.

Changes since last stable release
- Better performance on multi-core machines
- Significantly faster buffering and seeking times (for best performance make sure only one bitrate is selected on client)
- WTV format support (preliminary, might not work with all files)
- Support for AirPlay and high quality 5120kbit/s bitrate (requires client update, currently pending approval)

Originally Posted by dkazaz

Zumocast does several things I really don't like, like putting your files on a website which means your privacy is like gone forever and if you're careless you can delete the files on your PC from their website, which is an incredibly idiotic way to write an app. So I will just never use their stuff again, period.

i realize i'm several months late to this thread, but clearly you've confused zumocast with zumodrive.

zumocast doesn't put anything on a "web site" (presumably you meant a server). it merely streams data to one's iOS device.

zumodrive enables a user to store data "in the cloud" (i.e. on the developer's servers), but that's a separate service -- and is irrelevant to this thread.

the two "zumo" products are explained here: ZumoDrive Vs. ZumoCast - ZumoDrive Blog

i'm not affiliated with the company. i happened upon this thread while looking for something else.

I have been using AirVideo for little over a year till I found some of my Dilbert episodes were not playing. So I started looking for other apps. After using ZumoCast, VLC streamer and a bunch of other free apps for a while, I have kept QuiKast as my player of choice. It gives you a timeline based thumbnail preview of the movie - so it's easy to seek and move around. Also, QuiKast puts less load on my 3 yr old pc than airvideo.