I just grabbed xine-lib cvs for 20060915
I looks like it does not recognize mms addresses:
$ xine mms://126.96.36.199/IMN
This is xine (X11 gui) - a free video player v0.99.4.
(c) 2000-2004 The xine Team.
io_helper: I/O error: Bad address
It played well with earlier xine-lib-1.1.2-xxx-lvn and with mplayer too.
The link has wmv9 codecs but I also tried it with wmv8 web stream and it did
not understand the address as well.
here is the --verbose=2 output.