Have you ever tried using the media player? There is no buffering involved. The media player only allows you to view/listen to as much of the file as you have dlded at the time you pressed Launch.
You can't preview something that you aren't dlding and you can't listen to a whole song if it hasn't finished dlding. In other words, it is not so much your connection speed that is concerned as much as your RAM: many seem to have to wait a little after launching a file before the file actually starts playing.
IMO, it is quite useful (unless, as I said, the speeds are too high) as it allows to check if the file you are dlding is indeed the one you want.
And 50 metal vids? Gosh. I mean I'm a metalero too but how much did it cost (unless they weren't original...).

As a side note, when clicking Launch, LW creates a "photo" of the file (stored in the Incompletes folder) from the time you clicked the button in order to play it.

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iMac G4 OSX 10.3.9
RAM 256MB
LW 4.10.5 Basic
ADSL anything from 3 to 8Mbps/around 1024kbps

"Raise your can of Beer on high
And seal your fate forever
Our best years have passed us by
The Golden Age Of Leather"
-Blue Öyster Cult-