Equalizer animation is very slow and choppy in Flash AS3 when streaming?

Question

So here's the scenario...sigh...My app makeup goes like this

1. main FLA load mp3Player SWF
2. mp3Player SWF loads mp3's via XML in which the XML is loading the mp3's through a full URL and not locally (url = "http://blahblah.com/song1/mp3, not "/song1.mp3")
3. I have only one frame, no animations, and 2 movie clips for the equalizer. One for leftPeak, one for rightPeak and it works perfectly except the performance is absolutely garbage.

Now what is funny is that I'm pretty certain it can't be the rendering that's causing the issue because I have an animation that occurs in the main FLA that's VERY smooth while the equalizer is extremely slugging (feels around 7 fps). Also, I can see these little rapid updates here and there in the equalizer as though it's "capable" but just not updating at the requested FPS.

Could it be due to all the hoops I have the mp3 streaming through? Should I make the XML reference the file locally (url = "/song1.mp3" instead of "http://blah/song1.mp3")?

ANY help will be GREATLY appreciated :)