Wowa. I'm not a programmer or anything but I think I have just seen what could be the solution to a lot of our "mpeg1 sucks" problems.
This project has managed to get VLC ported over to Java!
There is a cool Java Webstart application that shows it's use and from what I can see it kicks major bootie.
It uses far less CPU power than Wire Fusion's current mpeg player, has stop, pause, rewind and a scrub bar and looks like it supports all the same codecs VLC does. Which means pretty much everything!
Can this be ported to a cool node? The source code is there. . .