OK, this is not exactly what you were asking...
Unless you are using multiple zones feature or need synching (MC to MC), then I would set up a shoutcast stream from one PC and use MC to listen on your machine (the same one that is streaming), and maybe Winamp or MC to listen on others. I *think* that that will work, but it is probably more overhead processor-wise on your machine.
When I get my server setup, I plan on hooking up an XM radio to it and piping it out to shoutcast. Then for all of the mp3 files stored on the machine I will create genre playlists that remote PCs can click on and it will all automatically load into either MC or WinAmp (like building my own local radio stations for the house). Additionally I will have the mp3 top level directory shared out so that throughout the house you can pick and choose songs, artists, albums, etc.
Brain21