Silverlight 3 Beta

Microsoft Silverlight 3 Beta was unveiled at MIX09. New features include:

• Live and on-demand true HD (720p+) Smooth Streaming. IIS Media Services (formerly IIS Media Pack), an integrated HTTP media delivery platform, features Smooth Streaming which dynamically detects and seamlessly switches, in real time, the video quality of a media file delivered to Silverlight based on local bandwidth and CPU conditions.
• More format choice. In addition to native support for VC-1/WMA, Silverlight 3 now offers users native support for MPEG-4-based H.264/AAC Audio, enabling content distributors to deliver high-quality content to a wide variety of computers and devices.
• True HD playback in full-screen. Leveraging graphics processor unit (GPU) hardware acceleration, Silverlight experiences can now be delivered in true full-screen HD (720p+).
• Extensible media format support. With the new Raw AV pipeline, Silverlight can easily support a wide variety of third-party codecs. Audio and video can be decoded outside the runtime and rendered in Silverlight, extending format support beyond the native codecs.
• Industry leading content protection. Silverlight DRM, Powered by PlayReady Content Protection enables protected in-browser experiences using AES encryption or Windows Media DRM.

It is interesting to know that YouTube is now using Silverlight for live video and audio streaming, as you can see here.