I know, this is very late to introduce the new media framework “Strobe” from Adobe. Excellent and innovative features of Strobe are countless. Here is the official snapshot for you from Adobe,

“Strobe is an open AS3 media framework that supports the workflow around video playback and monetization. Video players have different features set. The skins are different and the integration is different as well as the architecture workflow. But they essentially do the same thing and can be created using the Strobe framework. ”
The video quality is excellent from this Strobe Media framework. I know the complexity of creating Media Video Player through Action Script, but when I read the features of “Strobe”, I really stunned for some moment. Since it supports many more formats currently running in the market. Also the High-End support with FMS ( Flash Media Server ) and other Media Servers, is the nice feature of Strobe.
Here is the freaky snap of Strobe’s supported devices,

It has been solved many issues faced by the Flash Video Player Developers. This is really a good news for the developers like me. The foundation of the framework is Qos (quality of service), which focuses on OVP (Open Video Player) and provides a quick start for playing videos (smallest buffer size needed to start the video), efficient connection logic, and switching bitrates dynamically (recall metric monitor service in OVP).
Hope this will make the revolution in the Streaming Media
Read the complete details about interesting “Strobe” framework,
Adobe’s Site for Strobe
Elad Elrom Article from InsideRIA
CNET Official Site Review