VLC plays ts files, but if you load the 'K-lite codec pack' on your pc then everything plays back in Windows Media Player -including ts files, youtube flash files etc, quicktime digital camera files, whatever you throw at it. Nero Showtime is junk imho.
I convert ts files to avi (use AutoGK) so its less room on the fileserver, but ts files are better quality playback so fine if space isnt a problem. I'm at 900gb of on-demand AVI stuff now and need to upgrade drives at some point.