Thanks for your feedback Jeff & Sebastion,
I had a good look through the Australian RFL site and it's very smart. It looks like they simply supply the links to an extrenal video streaming server as you say.
The site that I'm looking into has very specific functionlaity so I don't think I'll be looking at too many 'off-the-shelf' modules so will be developing them in-house using C#,SQL Server etc.... I prefer to use EntitySpaces for my data provider but will be looking into using LINQ going forward...
One last thing... I may be looking for some extra development assistance and resources so if you know of anyone that may be interested then please drop me a line.