Wireless media servers are available from several manufacturers. Different models differ in the type of media which are supported. Another difference between different models is the size of the internal hard drive. An internal hard drive will store all of your media in one spot. That certainly is much more practical than having your media distributed on several media such as CDs and video tapes.
Some media servers also supports recording of video. As such, you can usually find the FireWire interface on those servers. Another great feature is the wireless streaming capability. Wireless streaming allows you to send your media all over your house without having to set up a LAN network. In order to receive media from your wireless music server, you will need either a PC with a wireless network card or a network receiver.
Network receivers are available and can either output video or audio. Network receivers which are capable of outputting video are still fairly expensive. Music network receivers, on the other hand, are quite affordable. So you might just as well spend some extra money to get a good-quality network player and then save some money by getting some inexpensive network receivers. That way you have great features and ultimate freedom.