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[nasdaqer]

I can connect my xbox360 to the internet (xbox live), and my computer can see it through media sharing (Windows Media Player 11),  Everything is set to share.  I get the codes on the xbox360:

W0000 - 000B
X0000 - F001
Y0000 - 0000
Z800 - 4005

I also run Windows Live OneCare, and it appears that all the correct settings are in place to allow the 360 to connect to the computer.

I'm gonna set this thing on fire.... (IMG:style_emoticons/default/muhaha.gif)

[Quick305]

I am having the same problem.  You might want to try turning your firewall off to see if it is a firewall problem.  I turned both my windows firewall and my security firewalls off and still can not connect to my Xbox360.  I am currently tring to find and answer to this.  My setup was working with Media player 10 and media connect.  After I update it does not seem to work.

[twistedsymphony]

You're not alone
I haven't been able to connect since I upgraded to WM11... even when the firewall is off completely.

[Quick305]

I am now able to connect to my computer through windows media Player 11.  I was missing an important step.  Once you have everything set up on the PC go to the Xbox360.  On the media blade select any media type and chose connect to computer.  Now the important part [You must select your PC] the connection will fail.  Once the options come up Chose connect to another PC.  Your xbox will search and find a computer.  You will notice that you PC name has changed to look like this [PC:the name of your library].  Select this and you media will show up like it use to.  I hope this helps, it worked for me.