Chaim Sajnovsky, a prolific contributor to the FlashMedia FMS mailing list and a FMS/Flash consultant, recently authored an informative article on working with video in ActionScript 3.0 that I just ran across.

It goes over the basics of NetConnections, NetStreams and Streams, and how to work with metadata.

You can find it on page 62 of the February issue. Download the PDF for free!