Yes, but as someone else mentioned, using the Files plugin will allow you to remote mount drive and then play stuff as if it were local. I’ve used that already to play some xvid and divx video and it worked good.
I’ve been trying this and its all well and good – but if your source is a little way away you are very susceptable to lag and blips. I mount an off site filesystem for movies. The >huge< benefit that xboc on the xbox has is that it, by default, builds up a cache of data so that you're impervious to these unless they are really bad. I was drawn to mt-daapd as a way to move to streaming this off site content and therefore incurring some buffering. If it didnt prove too difficult supporting the atv would help me a lot, by stopping me needing to run a windows box as well as a unix box in order to watch a film 🙂