Just thought I'd also add my vote for a native Linux port of TVersity. My use case is that I've got all my media (video and music) on a fileserver which is Linux-based, and would like to be able to stream video and music to an Xbox 360 without needing to do a one-time transcode.
I'd also be happy to pay $50 for a working native Linux version. I guess the timeframe for the Linux release is still "when it's ready"? Out of interest, what are the new features planned for the 1.0 release?
In the meantime, is there any way of running TVersity on Linux without requiring a Windows licence (i.e. vmware)? Is there any chance of this working in wine (does wine support all the video APIs etc?)?