Install the latest version of VLC, Go to Media > Open Network Stream and copy and paste the URL you find under the flash player on a live or on-demand stream page.
- Bypass Flash, should perform better for many people.
- Less resources are used in VLC compared to Flash
- You can change the aspect ratio, and other video settings
- On-demand streams do not display a time (00:00 / 00:00), but are still seekable
- DVR functionality does not currently work via VLC on live streams
- Automatic bitrate switching does not work, you have to select an HD, or SD feed.
You can find detailed instructions with images on the bottom of the stream help
Let me know if you have any more questions!