When using IIS Media its not possible to store the data in a SQL Fielstream.
For further details check here.
It's possibly very similar with the rest of your suggested solutions, since all of them need to re encode the material to enable streaming (if its not in the necessary format already).
You actually have 2 problems:
- Re encoding the videos into a format
that enables you to stream it via
the server platform you choose, just
for this part you need to extract
the files from the db since the
encoding tools can't be fed from a
database, even if its a SQL FileStream
- Store the encoded files
somewhere the media servers can
access them, again they don't allow
a SQL Server as a data soure, they
probably have their own storing
infrastructure or use the file
system.
Conclusion:
The FileStream is extremely helpful when you have full control over server/client, but sadly not in your case.
You will probably have to extract all files from the DB.