twintrbrx7,
The Flash encoder in CS3 may not be up to the task of encoding to the level that you want. Squeeze and Episode are far more sophisticated.
While I am not personally enamored with the audio or video quality at the site you mentioned (not a very rich sound, too much treble), you can achieve superior results by engaging an audio expert to get it to sound like you want it to. Just export and OMF and ftp it to an audio pro. It doesn’t take them long to fix it up and the small cost is worth it.
Our best results are attained by having an audio expert record the audio separately and have them filter it to the clients expectations. Then encode with a specialized application like Squeeze or Episode to get a balance between data rate and quality.
Check out the other forums that relate to compression. There are some very knowledgeable people there that have helped us tremendously.
See, Compression Techniques and Web Streaming.
Dean