Omar: Thanks for that link. That *is* quite involved and will end up eating a bunch of my disk space, which is not ideal (unless I upgrade the HDD). I was also hoping it would run as a background thing to the dashboard (like the ftp server), as opposed to having to run Linux to make it work. Either way, very cool that it can be done.
Erik: I was hoping to have it shareable through samba so that I could point bit torrent clients at the media folders and just have the files sent straight to their end destination, instead of having to download, then ftp. I would also be able to stream my media files off the XBox to my laptop in my office. The ftp thing isn't THAT big of a deal, but if I can easily move files in both directions I can minimize how many copies end up floating around.
An army of XBox's running my house would be amazing! Not a far stretch if their prices come down more.
P.S. I would think there'd be a bit torrent client out there for XBox. A quick search didn't come up with anything.