That sounds reasonable, and I'll let you know what more I learn about it. I also requested they do a Channel 9 video of that web team discussing the technology and architecture of the Channel 9 web site. :)
>From my research, so far, the server being used seems to be Windows Server 2003 or 2000 with Windows Media Services for the streaming. You are using a wmv format where the asf format is also supported. If it's something else, I would be interested to learn more. Thanks