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KutttPech is a JAVA-based MPEG-player able to handle LIVE STREAM video+audio as well as files. Very usefull for webcams and web-site add-ons. Try it, the speed will suprise you!
Forked version of abandoned project MPEG4IP ( http://mpeg4ip.sf.net )
The MPEG4IP project provides an MPEG and IETF standards-based system for encoding, streaming, and playing audio and video.