ASCII QuickTime Movie Player
EccentricAnomaly writes "Do you wish you had some more CLUI multimedia apps? Well, over at Mac OS X Hints I found this link to Apple's sample code for an ASCII QuickTime movie player. So grab some popcorn, make Terminal full screen, and watch some movie trailers the way ubergeeks were truly meant to." You can watch movies over remote login to another box, too, though the sound will come out of the host computer, not the client ...
Read the source code to get the "Top X Tips for better ASCII QuickTime Movie Viewing". I particularly like number nine.
mplayer has had ascii output for quite a while (as long as I've known about mplayer. And as announced here mplayer just announced support for sorenson V3, so you can play quicktime (and practically every other video format under the sun...). Quite happy running on OS X (as well as most *nix'es)
Beware the psychokinetic mimes!
There is a sourceforge project dedicated to improving this ASCII movie player:
http://quickascii.sourceforge.net/
Main differences so far seem to be command-line options.