Flash Media Server (FMS) 3.5

What's new in Flash Media Server 3.5

• automatic bandwidth detectionDynamic streaming (NetStream.play2() command)
• RebufferingRTMPE protocol or even fully encrypt your multiple video files (use with Flash Media Rights Management Server)
• ActionScript class NetStreamInfo contains 19 new ways to monitor the performance of the video stream.
• Streamming XMP metadata

more info: http://www.adobe.com/devnet/logged_in/ktowes_fms35.html