How do I properly stream media from my torrent box *without* transcoding?

I have a torrentbox. The special thing about this torrent box is that it's custom built, it has Windows 7 installed and I have full control over it using TightVNC. At the moment I'm using uTorrent WebUI and FTP do download the files. But I'm thinking - When I download a 1,5 hour long video in 30 minutes, wouldn't it be theoretically possible to just WATCH the movie directly from the torrentbox? Obviously this can't be dont using FTP since it makes you download the entire file, BUT:

Is there some other way to fool your OS into thinking that this is a local folder, and get media players like VLC or GOM player to play video files directly? This would be a monumental time- and space saver for me.

(I have both Windows and Linux Mint on my PCs)

Thanks for any and all suggestions!

-- Tomas