Not sure what you are doing wrong, but hang in there. The Silverlight works very nice. It installed easily for me in FireFox and IE. You can time shift to any point and the video plays immediately. You can also view up to 4 events simultaneously, pretty neat. The only thing I haven't figured out is how to make it go full screen, which would be nice as I'm watching it on the plazma.
I watched the Yngling race to get familiar with the player. The coverage is excellent from arial overhead, on boat, and chase boat views. You get the entire race from beginning to end. I got to say, Yngling racing is like watching grass grow, but it did get interesting at the C mark (mark 2). I can't wait to watch the Tornados. (see attached)