I had this same issue. Uninstalling and reinstalling will do nothing. I tried fooling with Windows Media Player on another user account on the same PC and had no issues, so I just created an additional account, titled Media. I set up my library within Windows Media Player (11) and was able so successfully share my media with my 360 once again. For S and G's I gave it an XBox 360 theme and now have my music and movies available on the 360 again.