NetShow 2.x got Microsoft into the streaming multimedia game, but Media Player makes Microsoft a real competitor for the first time. Media Player has improved on all of NetShow's 2.x features while at the same time eliminating its deficiencies (most notably the requirement for two different players -- one to play files in the Microsoft ASF format and another to play those in the Real Audio/Real Video format).
RealMedia retains at least one trump card in its hand with the "RealFlash" animation content support offered by v5.0 and later of RealPlayer. Still, in considering all of the major factors that come in to play in the war of multimedia streaming clients -- audio and video quality, performance, versatility, ease of use, and functionality -- perhaps it is time to crown a new king.
Pros: Outstanding real-time A/V, excellent support for NetShow and other A/V formats
Cons: Lacks the "RealFlash" animation content support offered by RealPlayer
