After doing a bit of research, I've found that many of the slingbox type hardware devices only allow a user to recieve their stream via proprietary software. Unfortunately, these companies have not taken the time nor effort to develop a playback application for Linux, Mac, etc.
This is why I would like to build a homebrew slingbox.
I'll be doing some research and development to build out this device, but I just wanted to throw out the idea to see if anyone else might be interested.
Another application for this device could be remote security monitoring or similar application.
An ultimate goal for this project would be to have a webUI for remote channel control and viewing via a live flash video (or similar) feed.
Software thoughts:
LIRC - for IR transmission (changing the channel on a remote cable box or similar)
http://www.lirc.org/transmitters.html
VLC - for video streaming and playback
http://www.videolan.org
Any thoughts or help would be greatly appreciated.