A lot has changed since 2007 and Red5 Media Server has grown significantly! With over 1,000,000 installs, there are now numerous projects utilizing this open-source streaming solution. Their documentation has also expanded to cover a wider range of topics, making it easier to get started on your own. I recommend checking out Red5 official website and GitHub for the latest information.
but I think its limited in a few ways because of proprietary
codecs etc. I've been meaning to take a look at it but I think you
need to learn how to program java to work on the server side code.
Which is probably not too difficult I guess. And with the update of
the player to H264 video support I read that for streaming it might
be limited to FMS by some new mechanism.
For basic data streaming I think it should be great. But I
haven't tried it yet. You might find more knowledge people in the
FMS forum, although I suspect its a little quieter than this one.
Or if in doubt ask the red5 people.... Its certainly a very worthy
and interesting project.