Ok! I played with this for quite a while and here is what I have working:

1 First I downloaded the FREE {JW FLV MEDIA PLAYER 4.0} and placed the proper files in the root folder of my GSP site.

2. Then I created an FLV mime type in IIS 7. It looks like this:
*.flv / video/x-flv

3. I then opened the GSP config file (galleryserverpro.config) and added the flv mimetype extension as shown here:

<mimeType fileExtension=".flv" browserId="default" type="video/x-flv"
allowAddToGallery="true" />

4. I next created the html template for the flv mimetype:


<mediaObject mimeType="video/x-flv">
<browsers>
<browser id="default" htmlOutput="&lt;p id='preview'&gt;The player will show in this paragraph&lt;/p&gt;
&lt;script type=&quot;text/javascript&quot; src=&quot;swfobject.js&quot;&gt;&lt;/script&gt;
&lt;script type=&quot;text/javascript&quot;&gt;
var s1 = new SWFObject('player.swf','player','400','300','9');
s1.addParam('allowfullscreen','true');
s1.addParam('allowscriptaccess','always');
s1.addParam('flashvars','file={MediaObjectAbsoluteUrlNoHandler}');
s1.write('preview');
&lt;/script&gt;" />
<browser id="ie" htmlOutput="&lt;p id='preview'&gt;The player will show in this paragraph&lt;/p&gt;
&lt;script type=&quot;text/javascript&quot; src=&quot;swfobject.js&quot;&gt;&lt;/script&gt;
&lt;script type=&quot;text/javascript&quot;&gt;
var s1 = new SWFObject('player.swf','player','400','300','9');
s1.addParam('allowfullscreen','true');
s1.addParam('allowscriptaccess','always');
s1.addParam('flashvars','file={MediaObjectAbsoluteUrlNoHandler}');
s1.write('preview');
&lt;/script&gt;" />
</browsers>
</mediaObject>

The player needs a direct path to the videos so I used the {MediaObjectAbsoluteUrlNoHandler} to direct the player to the proper video.

5. I uploaded some flv videos to my site and all worked well on IE7, I have not worked on any other browsers so I wouldn't know how to code the output for them.

Now I have an FLV player working on my site.
YEEEHAAAAWWWW