Flash 8 question.
 

Whats the advantages of me switching over to a flash video player?

I know that it loads much quicker but are the files smaller?

Depends on how you encode them and what compression you use, but for the most part not really

i heard somebody at CFUS saying that in some cases the file size is bigger...so the only person I am really helping out if I make the switch to flash is the surfer.

That is correct, most of the time it is just to benefit the surfer. In some cases we have had the files turn out considerably larger, but for the most part they're not much bigger