Yes. See the Remote Access tutorial to see how.
Note that remote access needs an UPnP or NAT-PMP compliant router. If your router does not support these protocol you will have to configure the port forwarding yourself - forward the port 45631 from your router to the computer running Air Video server.
Yes, starting with version 2.0 live conversion is supported. Live conversion requires iPhone or iPod Touch with firmware 3.0 or newer.
Please check if you have sufficient access rights to create files in folder where the video is located. If you have sufficient rights but the conversion still doesn't work, please contact us (attaching the conversion log will help).
The files are probably DRM protected. Apple doesn't permit playing such files over network.
Those files, even though being in right format, probably have too high resolution or bitrate to be played on iPhone/iPod touch. You can, however, easily convert those files using Air Video.
Wi-Fi Video is our previous product. After Air Video is released, Wi-Fi Video is no longer on sale. We would love to give every Wi-Fi Video user a copy of Air Video, unfortunately Apple doesn't allow us to do this within App Store and there is no other legal distribution mechanism we can use.