It doesn't exactly work the way you want, but if you have a mycast.orb.com account and either a wireless or edge connection, then you can stream avi files from your pc at home to your Iphone. Here are the instructions:
(1) Install the lastest version of Orb, obtained here.
(2) Create an Account (and make me your friend!)
(3) Right click on the orb tray icon then select Configuration and point it to the directories which contain you audio and video files you would want to view/share.
(4) In the Iphone Installer goto multimedia and select Orb Live. Once installed just give it your login and password and your ready to go.
(5) To actually view your movies select the movie button at the bottom, then select Folders to browse the file structure you pointed orb to in step 3. Find the file you want and enjoy.