With FarFinder’s return to the App Store, there is a change to streaming video and audio from your Mac to your iPhone: this is now only possible over wi-fi, not over 3G. If you’re on a 3G connection and there’s something you really want, you can still download the file to your phone first, then watch it (if it’s in a format playable by your phone, of course).
Apple have changed the App Store rules since FarFinder’s previous release; streaming media over 3G has now some weighty requirements around it and FarFinder in its previous form would no longer be accepted. Implementing Apple’s new requirements for on-demand streaming is a large undertaking, involving on-the-fly transcoding of media files into multiple formats, and there are enough gotchas that it would be difficult to do well.
There are at least two apps that are devoted solely to this feature. If you’ll miss video streaming, have a look at this article. Because they actually convert your media files, these apps should play a much wider array of video formats than FarFinder ever has.