i want to use streaming video on my site. any advice on what format i should use and what are the things i need to look out for? do i need any thing my my server?

you should look at www.helloworld.com/njack. The site allows you to upload any video, code it appropriately for your web site and then gives you the htlm code to paste into your web page. the video is stored on helloworld servers, saving you space and plays from those servers. doesn't need any added broadband on your web site. you will also get video e-mail, video blogging and pod casting, live web broadcasting and a digital video vault to store your audio/video files
Hope that helps