D-Link DSM-320 Media Lounge

I recently bought this D-Link media player thinking that I could primarily use if for sending streaming audio content through my computer to my stereo system, then through the household sound system. I was also hoping to be able to use it for live video streaming to the TV. It has a direct connection to our home networking router.
However, out of the box, the options seem to be limited to a couple of pay-type music (Rapsody and Napster) or Live365 radio. Are there any "work arounds" or am I pretty much out of luck?

Here are my computer specs for someone to tell me if live streaming is even a possibility for me. Thanks for any info you can provide!

Computer:
Operating System Microsoft Windows XP Professional
OS Service Pack Service Pack 2
Internet Explorer 6.0.2900.2180
Motherboard:
CPU Type Unknown, 3000 MHz (3.5 x 857)
Motherboard Name Dell Inc. Dimension 9100
Motherboard Chipset Unknown
System Memory 1024 MB
BIOS Type Phoenix (05/25/05)
Display:
Video Adapter RADEON X600 256MB HyperMemory Secondary (256 MB)
Video Adapter RADEON X600 256MB HyperMemory (256 MB)
Monitor Plug and Play Monitor [NoDB] (W869057K3LQA)
Multimedia:
Audio Adapter Creative EMU10K2 Audigy Audio Processor
Storage:
Floppy Drive Floppy disk drive
Disk Drive ARRAY
Optical Drive HL-DT-ST DVD-ROM GDR8163B
Optical Drive PHILIPS DVD+-RW DVD8701
Partitions:
C: (NTFS) 301752 MB (292055 MB free)
Input:
Keyboard HID Keyboard Device
Mouse HID-compliant mouse
Network:

Network Adapter Intel(R) PRO/100 VE Network Connection (192.168.0.5)
Modem Intel(R) 537EP V9x DF PCI