I would like to suggest the ability to set the bitrate that a given shared video (and Audio I guess) will use, and to have that setting be at the server in the Shared Media screen.
I envision a drop box on each row of the Shared Media screen that has bitrates listed in it, and the option to "User Defined." If a specific bit rate is selected, the file will play at that bit rate only. If "User Defined" is selected, a drop down list appears on the shared media playback screen to allow the end user to select the bit rate, similar to the "standard" video playback screen that you see if you are a logged-in user...
By allowing the setting to be changed at will on the shared media screen allows an admin to "depreciate" older shared links to lower quality as needed (or as demand calls for it).
Thanks for the consideration,
Glenn