The streaming player we are looking for needs to have a thumbnail seeking feature , however the thumbnails are to be extrated from the movie being played which negates the need for external mini-jpegs.
Other than that the player should have normal customized controls
A perfect exemple of that would be from the flash video feeds provider [url removed, login to view] (warning: features xxx material)
Click the "View Sample" link to see their player in action
I believe this function is impossible in progressive mode but that is not a problem as we use a streaming FMS2 server to serve our videos.