OWC directed me to use this app after I purchased memory that turned out to be defective. 8GBs took a lot time to go through, but having the diagnostic made exchanging the RAM painless. OWC is great anyway. Since Rember is free, doing what it needs to and getting out fast, I have to give it 5 stars overall even though it looks ugly (which is fine—even preferable to a pretty app that uses more RAM than it needs to.)

If I could add one feature, it would be a loop completion estimate and a total test time estimate. (i.e. “Estimated Total Time: xx:xx” “Time Elapsed: xx:xx” “Estimated Loop Time: xx:xx” “Current Loop Elapsed Time: xx:xx”) This would save everyone who uses this app from having to come back and check every 15 minutes on tests that can take hours.

To the Dev: Thanks for making this app, it does just what it needs to do. You might want to mention that multiple loops will make it so all memory is tested (if the comment below is true) and offer people the option to quite all apps and even the Finder temporarily to free up RAM.

Air Media Server works flawlessly as long as your connection is fast and your computer has enough processing cycles free to transcode on the fly. I found in testing that AMS can bring a 802.11g router with light traffic to its knees (The router had to be restarted: I figure it was a cheap router).
Also, transcoding adds a considerable amount of lag time from hitting play. Earlier versions would sometimes fail to start streaming because of slow (weak signal) WiFi & heavy transcoding delay. It might still happen with newer versions for iOS, but I have yet to encounter this problem.
It will play movies that are already compatible with iOS with no processor hit, and instant streaming. So, I usually transcode with handbrake if I know that I will be streaming the video. But it is nice to know I don’t HAVE to if I don’t have time. Internet sharing works surprisingly well, but again, make sure that your home’s ISP has fast upstream for best quality, and you have a static IP or use something like dynDNS so you can find your server far from home.
Use of this app is dependent on you having a need for it, and quality is completely dependent on your hardware. If you have a slow network, you will have a worse time. I was using a dual core MacBook Pro (2.53GHz) and the transcoding took up almost all available processor time. This is not a big deal, since for most people, the machine will be idle anyway.
Of the problems I did have almost none of it is AMS’ fault. It is very quick and easy to set up as well. This should appeal to less technically advanced users. Essentially you launch the app and chose which folders to share. (Optionally one can change processor load and if you wish to share over the internet.) On your mobile device: you launch AMClient, select the AMS (or enter its IP if it is over the internet), browse the folders, and hit play.
I should note that I got the iOS app for free (via AppsGoneFree {AppAdvice.com}) when it was discounted to free for a day, so I am probably rating it higher than someone paying full price for the iOS component.
The bottom line is Air Media Server is a quick and easy way to start streaming content to you mobile device with no hassle assuming you have modern equipment.

I got this when it was half price a few weeks back. I do not think it is worth the full $40 price because it only mounts (S)FTP volumes. But for $20 it is worth saving the hassle of bending over backwards to do quick file transfers.

What is sweet is that I can now run a CarbonCopyCloner scheduled backup automatically whenever I mount the drive. Before I had to set up an rsync.

I would probably chose Transmit over ExpanDrive if I still bought Transmit. (I don’t buy upgrades to transmit because I now use Coda which is also from Panic Inc.) But for $20 it was an okay buy. I would easily give this app 5 stars if it was more reasonably priced in the $10–$20 ballpark.

Crashes on launch under 10.7.3. Deleting the preferences files does not solve the problem. Console log is as follows:
PageSender Fax Center[9329]: *** Terminating app due to uncaught exception 'NSInvalidArgumentException', reason: '-[__NSCFDictionary setObject:forKey:]: attempt to insert nil value (key: TB Item Identifiers)'

For an expert user like myself, Boom is a little too simple. I really like the visual display of the EQ effects on the frequencies, but a parametric EQ and the ability to monitor the output and show distortions and a spectral graph would be more my speed. I got Boom in the last MacUpdate Promo bundle.

Also, I use Airfoil to transmit the audio to my iPhone so I am not tied to headphones plugged into the machine all the time. But with Boom, I have less feedback than Airfoil.
Also, it looks like I cannot choose to EQ the Airfoil audio stream. It seems as if I can only EQ the System Output. (Correct me if I'm wrong.) I use separate audio cards and outputs all the time, and I route system sounds to the system output and all others such as music to either Airfoil or a USB or FireWire Audio interface so I don’t get annoying beeps while listening to music.

If Boom were to (1) add more feedback as to what is actually happening live (including a distortion "redline"), and (2) allow me to select source and output I would up my star rating by at least 1–1.5.