You'll still need a PC to download movies. But if your Xbox 360 is plugged into your home network, CinemaNow's Media Manager software will recognize it. That means while the movie will still be sitting on your PC, you can stream it over your network to your Xbox for viewing on your television set.
Nothing too revolutionary there, except that CinemaNow has a library of over 7,000 videos, some of which you will not be able to access from the Xbox Marketplace.
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