According to Lifehacker, developers have recently ported Xbox Media Center (XBMC) software to the Mac with their new release, dubbed "throw out your Xbox." XBMX for Mac 0.5 beta adds a key feature necessary for the ultimate media center conversion: remote control support. The article lists a number of reasons you should replace Front Row with XBMC, including:
Check out the Lifehacker article, XBMC Turns Your Mac into the Ultimate Media Center, for details on what you need and how to set it up.