Hi Luis,
A chart comparing Wowza Pro to both Adobe FMSS and FMIS is posted at http://www.wowza.com/comparison.html. As you will see Wowza Pro offers excellent economics, performance and many exclusive features you can’t even get with Adobe FMS3.
Also important to note that Wowza Pro has recently won the Streaming Media Magazine 2008 Readers’ Choice Award, beating Adobe FMS. You can find additional details at http://www.wowza.com/2008-09-30.html.
While we don’t offer encoding products, Wowza Pro is compatible with the widest range of both Flash and non-Flash (RTSP, RTP and MPEG-TS) encoders. FMS doesn’t work with non-Flash encoders. Wowza will also work with the content encoded by Flash Media Encoding Server (which is really a re-branded Rhozet CarbonCoder).
On the DRM side of thing, Wowza Pro has been tested with Widevine Flash DRM by one of our customers and found to be fully compatible. We have not tested with Adobe’s FMRMS.
If you are interested in additional details, please email me off forums to alex@wowza.com.