Just found this tutorial on Apple's site. Using this method, we can create the 300k H.264 videos like we have been doing but also create a 100k or 40k H.264 video (or both) and create a reference file to have called by the client's quicktime player. Once that file is called, the file gives the client options available and then the client picks the best quality stream that can play on that user's connection. So if you have a 3meg broadband connection, you get the high quality video we have been serving but if your connection doesn't quite make it (like at the office), you'll automagically get a a low quality video that actually works.
Here's the link:
http://www.apple.com/quicktime/tutorials/refmovies.html Reference Link