I can show you how to do a pseudostreaming for flv videos, and a quick start on MP4/h264 just like the one you see on youtube. However, before I can do that you need to change your player preferences . It has to be jwplayer or flowplayer. On top of the player change, you will need to have flvtool2,ffmpeg, and ffmpeg php installed on your server, OR at least have the means to inject metadata on your videos prior to uploading them in your server.
The quick start for the mp4/h264 videos requires an mp4box installed on your server, and the ffmpeg installation must be compiled with the x264 if you are to encode videos in the server. Otherwise, some GUI video encoders and MOOV ATOM relocators will just do as fine as what I have already mentioned above.
I wrote many scripts for video applications, including bandwidth calculators, remote server transfer to and fro, video server load balancer, and remote server streamers by way of HTTP and RTMP video streaming, and the script that went flop flv VOD..that did not make the cut at all ;).