Streaming Video lags

I have a streaming media player I built for playback of full-length movies and tv. We are currently planning on using Wowza Streaming Server to handle our streaming services. I have multiple streams stored in Amazon S3 and delivered to the player via SMIL. Wowza checks the bandwidth and the player chooses the appropriate stream for the initial bandwidth.

I am playing back full-length movies at 1600, 1200, 900, 600 and 300 kbps. Currently dimensions are around 720 x 360 roughly. We have plans for dynamic streaming, but not implemented yet.

Now the problem. Occasionally during playback the video will lag or stop while the audio continues. This issue usually corrects itself within 10 seconds where the video leaps forward to catch the audio. I am tracking my bufferTime and watching for NetStream.Buffer.Full and NetStream.Buffer.Empty. When I see these lags I have plenty of buffer, 25+ seconds, and am seeing no Buffer events – or NetStream events for that matter.

Any ideas?

PS. while testing just now, I did see the stream reconnect and pick up right where it left off. Is this related somehow. The buffer stayed at the same point.