Can I click on some time and eventhough the video is not downlaoded till that time and the video starts playing from the time I clicked? If yes, what would be a better option for viewing streamed video- HTML5 or flash player like JW player? WHich one will have less lag?
I have tested this with Firefox and Firebug and while you can "seek" to a point in the video without having to watch video preceding the point you wish to seek, this still causes the entire video file to download.
Indeed, each time you seek in Firefox 4, the entire video downloads.
This may change and improve as HTML 5 video implementations become more mature and may differ based on the actual browser being used.
More information on the test here:
http://www.stevefenton.co.uk/Content/Blog/Date/201106/Blog/HTML-5-Video-In-Real-Life/