The only video playback control I can see in Flex is mx.controls.VideoDisplay, which appears to support .FLV only. Is that correct? Are there other ways to play video in a Flex app, and do they require anything on the server side or can you just point at a hosted video file, and Flex takes care of streaming/buffering?
Also, if you put 2 VideoDisplay controls on top of each other, could you see one video superimposed on another?
Edit: I forgot to say, of course all the Flash controls are available in a Flex app as well as the Flex ones. So if those provide greater abilities they are of interest.