So i did mess around with the Movie node and it seems to work ok. you cannot see the movie playback realtime in the viewport so you must render out your scenes. The only problem I find with this is that you must account for every frame in the movie sequence. e.g. you model a TV and want a movie with 300 frames to play in it. Instead of rendering out one frame and than taking out to After effects to composite the movie in In Maya will have to render all 300 frames.

I have attached an example material for you to view. I had to create an expression so it will change the movie frame accordingly.