Boys, I have to share this one with you... I found a really nice program called Txtmedia! It converts any video-format (or at least avi & mpg ) file to an ASCII video. I tried it with some music videos, plays them excellently! Get it from http://iki.fi/sol, click "files" from the upper right corner & scroll down to almost bottom of the page.
Funny & 133t.

-ZeroOne

PS. Also check AsciiMagic! (It's from different creator). It converts any image to an ASCII file so you can view it with, for example, Notepad!