We have released Livestream Studio version 3.1.31 and player version 3.1.72.
This release includes support for H.264 recording in beta which is now possible by pointing any H264 encoder such as Flash Media Encoder to the Livestream FMS URL
rtmp://publish.livestream.com/mogulus/[channel_name_here]/username=[your_username]/password=[your_password]/isAutoLive=[true|false] as outlined in the userguide: http://www.livestream.com/userguide/...ith_Livestream
Any broadcasts that are encoded in H.264 will be available for download and playback in H.264.
Premium users now have the option to change channel quality to Basic H264 Beta or High H264 Beta which will set this as the default format for any imported clips.