Streaming server - Linux

I currently have a little 500mhz server with no use and is sitting all lonely in my cupboard. He was in the garage before that so he's moving closer to the router all the time!

I wanted to built an automated streaming video server with all my quality videos on it. The idea was to stream video out into the world, preferably using Linux since windows just isn't stable on the machine. The idea is to have a list of videos, and it'll either randomly play them or play them back to back.

So anyone know of any fairly useful streaming linux software for video?