It's easier to go the other way around.
In fact, if you're happy to ditch iTunes and it's seeming need to reinvent the wheel, you can run a DLNA(or uPNP) server on a file-server and serve video, photos, and music to equipped devices, which range from TVs, Xbox360s, PS3s, other computers, dedicated decoder units, and more. And you won't be limited to some arbitrary number of clients, or be restricted to sanctioned codecs.
Unfortunately AFAIK you won't be able to use iTunes, and you'll need to workaround it somehow, like mount the DLNA share and make that your library. However Windows Media Player 10+ will work with it, as will numerous other free media players (I use Rythymbox, Boxee, and my 360 as clients).