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If you're talking about FMS3, which I assume you are, don't get too excited.
You still can't record or stream live in h.264 - you're still stuck to FLV + NellyMoser [closed source audio]
Even more painfully, it still only supports Actionscript 1.0 on the server side.
FMS has always offered reasonably secure streaming.
Unfortunately, this is more hype than real.
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