Today I tested out the remote control third-party application which allows my iPod touch (or iPhone) to remotely control my computer's iTunes library via Wi-Fi. With that, I can play, pause, fast forward and rewind tracks from anywhere around my house.
Here's a video of how it looks like:
However, do note that in order for the pairing to be successful, you need to disable your firewall (for both Mac and PC). Once paired, the performance is rather snappy and is very full-featured, assuming a reasonably fast connection speed. You can even play video files remotely, browse playlists and search for content on your computer.
As a free download from the App Store, this is highly recommended, and you can trust that it's stable as it's written by Apple.