Buffering for streaming (especially transcoding)

[fifthace]

Adding an optional buffer for streaming would solve a lot of issues with transcoding and over poor connections. Plex does this. The option to vary buffering at the ffmpeg stage (say 1-5 seconds) would make a huge difference to me.

In fact, ffmpeg has the flag -bufsize. Is there anyway I can change this? Is there an options file where you can specify additional ffmpeg arguments?