Now that I've put a little more thought into the subject......I lied.

I have tried:
- My PS3 can 'see' the music server and all of the FLAC files to the extent it recognizes the tagging info (artist, album track title etc...), but none of them will play. I can't recall what error message it gave me as to why it wouldn't play.
- A couple years ago all my music was in WAV. The XBox 360 wouldn't play it. Now, it's all in FLAC. It's been quite some time since I've messed with it, but I do recall it not recognizing the music folders existence at all.
Now to be fair, I do have a SqueezeBox, so I didn't spend much time troubleshooting why neither player would stream the tunes. So I'm not saying it isn't possible..... just that I couldn't get it to work after spending an entire five minutes trying.
Bob