I have no experience with this, only suggest you this format.
It's seem that mp4 have more support in browsers so probably should go on
this way.
Latency is a problem which depends on a lot of factors.
U can read this <http://x264dev.multimedia.cx/archives/249> for more
information. But u need to do a lot of tests with all browsers, and change
every parameter that have an importance on this subject. Has no to be that
bad. :)
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