Air Video, a fantastic app that can transcode and stream video content from your Windows PC or Mac straight to your iPhone, iPod touch, or iPad, has just been updated to include support for multitasking and Retina display. 

Your Windows PC or Mac needs a small piece of software installed to communicate with your iPhone, iPod touch, or iPad but once setup you can stream native iOS video content (MP4 and M4V) instantly to your device (rather than having to sync it over first via iTunes). Air Video will convert non-supported video formats (AVI, MKV, etc) and either store them for later streaming or stream them on the fly so you can watch now rather than waiting for later.

This is done with one click on your iOS device; no other software is needed for the conversion. You can also setup specific folders for the converted videos to be stored in and choose what order they appear on your device.

Air Video is an excellent app that gives me instant access to over 2TB of media on my Windows Home Server. Do you use it? Let us know what you think in the comments!

[$2.99 - iTunes Link]