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From SpacialAudio

You can link to multiple sound files within a playlist. You can also link to other streams through .asx files.

The best place to start to get more information regarding .asx files is through the developers:

http://msdn.microsoft.com/archive/default.asp?url=/archive/en-us/samples/internet/imedia/netshow/simpleasx/default.asp

http://msdn.microsoft.com/archive/default.asp?url=/archive/en-us/samples/internet/imedia/netshow/asxfeatures/default.asp