The way it works is you download a program on your desktop, drag and drop the movies you want to stream to your IPhone, it converts the movies very quickly in iPhone compatible format. Then you use your app to choose the movies you want to stream. No bugs, no issues, fast setup, very reliable. Free version shows a ad at the bottom of your movie. I think the $2 to remove them on the full version is worth it.
Aweyeaa about VLC Streamer