There are two different definitions for "streaming video": the technical definition and what most people think is streaming. Actual streaming video requires a special server to process the stream data. It is also "real-time," allowing visitors to jump to any section of the video no matter where that position is (hence the special server requirements).
Our program, by contrast, is "progressive download." That means that once the video is called, it begins downloading to your temporary files for viewing. Because of this, the visitor can only watch up to the point in the video that has been downloaded so far. Also, the visitor cannot skip ahead until the entire video has been downloaded. This is the preferred method of transmitting Flash video over the web and can be seen at YouTube, Google Video, MySpace, and almost any other video-enabled social video networking site.
We don't have a file limit on Video Player, but keep in mind that the larger the file, the longer it will take to convert and upload to the server. Consequently, it will also take a long time to download for your visitors (depending on their connection).