Unless you want to maintain separate storage for each Player/TV in the house, the NAS (Network Attached Storage) is the key element in actually distributing your media to each individual player.
There are almost limitless options when it comes to NAS, and as I was getting my feet wet I went with the least expensive option (a BT861 NAS). A generic NAS with no onboard storage, but two USB connections for external HDDs. It was found on Ebay for approximately $35CDN. The NAS doesn’t come with very reliable software, and needs to be reflashed to Snake OS (a painless and simple process) before you invest any energy in the crap it ships with.
Out of the box you can now share files across your network using Samba and network media tanks (like the Patriot Box Office and Egreat Media Tank) will be able to play videos off the NAS.

If you want to stream movies from the NAS to your PS3 however another step is involved, the installation of MediaTomb. This process is a little more complicated, but with a little perseverance you will be able to stream movies to any UPnP / DLNA compliant devices (such as your PS3 or Network Media Player).
An added bonus to Snake OS is that it comes with a Bittorrent client (transmission) which allows you to shut down your desktop or laptop and leave the NAS running in the background chugging away at your file list.
There are also FTP, Webserver and Dynamic DNS options, but I really haven’t mucked around with them as of yet.
(I have ordered a second NAS like this one, and will post detailed instructions and screenaps of the process of switching it to Snake and installing MediaTomb once it arrives in the mail).