applyTV is only 200 hours of video and doesn't answer the need for storage of your current "physical" library storage of 500+ movies.

Lee, if you were to compress the files, you would go against the demand for quality. I would almost say, pick up a few more ExtHD's and run a program (excel or the like) to store your lists and ExtHD location.

I once thought about setting up an in-house server to store media with a media center interface between the blades and the TV.