What I want is as much information on and to know if this is even possible:

To real time encode a wmv file into a flash player as a flash video file.

User request a video feed/file (*.wmv)
*.wmv is stored on a Win. media streaming server.

**But the user request it to be shown to them as a Flash video file (swf/flv)

The server then pushes the file or by one method or an other the live stream is encoded to play in a flash video player.

This way I dont have to re encode all my videos that we are streaming to users to give them a flash video option. Anyone with suggestions please post them here or email me at armstrong.paul@gmail.com