As has been noted elsewhere Flash players have a problem with live streams where they almost always accumulate increasing delays as the time played increases.
Stopping and starting the player "resets" the delay to its initial value, but then it keeps increasing. It is very noticeable if your test camera is pointed at a clock with a second hand (or digital equivalent).
The delays can easily become tens of seconds in as little as ten minutes of playing time.
Has anybody been able to solve this?
Adobe supposedly added a feature called "Buffered stream catch-up" to player 10.1.
Does it work? And if so, how can it be used with Wowza?
Or do we need to switch to smooth (or San Jose) streaming, and eat the minimum latency, but at least know it won't keep growing?